Accounts Pluz: Your Partner in Comprehensive Accounting Solutions
Who we are / about Sarjit
At Accounts Pluz, you can expect warm and professional accounting services provider in Auckland, offering competitive pricing. Sarjit’s commitment is to deliver comprehensive accounting solutions, from bookkeeping to tax returns.
Sarjit’s devotion and responsibility to her clients set Accounts Pluz apart through seamlessly integrating into your team, acting as your “Office Lady.” Her clients may not have the budget or need for a full-time role, but they do require the dependability of a proficient accounting and bookkeeping expert.
We ease your businesses financial pressures through
Streamlining accounting systems: Ensuring efficient accounting systems for both established businesses and startups.
Relief from anxiety: Free yourself from the burdens of accounting and bookkeeping management.
Extensive experience: Leverage over 20 years of Sarjit’s of accounting, both in New Zealand and abroad.
Friendly & professional service: You’re not another number with Accounts Plus. Sarjit works closely with each every client.
All-Inclusive solutions: Receive comprehensive accounting, taxation, and bookkeeping services.
Cost-Effective: Ideal for clients who cannot afford or don’t require a full-time in-house accountant.
FAQ
1. What is income tax returns in NZ?
Income tax returns in New Zealand are statements that individuals and businesses are required to file with the Inland Revenue Department (IRD) every year, reporting their income earned during the previous financial year. Here are some key points about income tax returns in NZ:
- Filing Deadline: The deadline for filing an income tax return in New Zealand is usually on March 31st of each year. However, taxpayers who use a tax agent may be granted an extension until June 30th.
- Income Sources: Income tax returns in NZ typically include income from wages, salary, self-employment, investments, rental income, and any other sources of income.
- Deductions: Taxpayers are allowed to claim certain deductions on their income tax returns, such as expenses related to running a business or investment property, donations to charity, and student loan repayments.
- Income Tax Rates: Income tax rates in NZ are progressive, meaning that the tax rate increases as the income level increases. As of 2021, the tax rates for individuals range from 10.5% to 33%, depending on the income level.
- Penalties: Late or non-filing of an income tax return in NZ can result in penalties, interest charges, and even legal action. It's important for taxpayers to file their income tax returns on time and accurately.
2. How do you file income tax returns in NZ?
Filing income tax returns for a small business in New Zealand involves several steps:
- Register for a myIR Account: If you haven’t already, register for a myIR account on the Inland Revenue (IR) website. This account will allow you to manage your tax affairs online.
- Gather Necessary Information: Collect all relevant financial information, including income, expenses, and any other financial records for the tax year. The tax year in New Zealand runs from April 1 to March 31.
- Complete the Income Tax Return Form: Depending on your business structure, you will need to complete the appropriate income tax return form. For example, companies use the IR4 form.
- Log in to myIR: Access your myIR account and navigate to the income tax section. Select ‘File or amend a return’ under the ‘Payments, refunds and returns’ section.
- Enter Income Details: Follow the prompts to enter your income details, including any additional forms that may apply to your situation.
- Claim Business Expenses: Ensure you claim all allowable business expenses to reduce your taxable income. This includes costs such as office supplies, utilities, and travel expenses.
- Review and Submit: Carefully review all the information entered to ensure accuracy. Once satisfied, submit your income tax return through the myIR portal.
- Pay Any Tax Owed: If you owe any tax, make sure to pay it by the due date to avoid penalties. You can make payments through the myIR portal or other accepted methods.