Updates

The GST rate change adjustment

Friday, October 1, 2010 - 14:01

"Businesses need to ensure they have the information needed to successfully complete GST returns over the rate transition period", said GST Advisory Panel Chair, Frank Owen today.

How do I determine which GST rate to use, 12.5% or 15% over the transition period?

Monday, September 27, 2010 - 16:16

The correct rate of GST to be used will depend on the time of supply. If the time of supply is on 30th September or earlier, the 12.5% GST rate will apply, if the time of supply is on 1 October or later, the new 15% GST rate will apply.

Advisory Panel welcomes proposed legislative changes

Tuesday, August 10, 2010 - 10:11

The GST Advisory Panel welcomes the government’s announcement today to enact recommendations made by the Panel that will, for many businesses, deal with a range of difficulties arising in the transition to the 15% GST rate.

Further proposed changes to the GST Act 1985 to help businesses transition to the new GST rate

Tuesday, August 10, 2010 - 09:49

The Government has announced that it intends to include a number of amendments to the Goods and Services Act 1985 by way of a supplementary order paper to the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Bill. The Government has also released a draft of the legislative amendments for public comment (available on request from Inland Revenue (04 890 6386) and the Minister of Revenue’s office (04 817 9728). Feedback on that draft is sought by 16 August 2010. This paper provides background and further explanation on the changes.

1 October business checklist

Tuesday, August 10, 2010 - 09:45

Inland Revenue has put together checklists to help businesses prepare for the changes on 1 October 2010. To view the checklist, please click on the following link: