Being your own boss and going into business can be both exciting and challenging. This is a guide to assist New Zealand tax residents who operate a small business. We have written some education articles to help you with your New Zealand small business and help you understand NZ tax law.

Business types

It can be very confusing to understand all the varying types of business structures and their meanings. In this article we will look at the definitions of Sole Trader, Partnership... read more →

Tax reporting obligations

Income Tax The standard tax year in New Zealand runs from 1 April to 31 March. If you are doing your own income tax returns you'll need to have them... read more →

Expenses/deductions overview

Most businesses incur expenses when generating income. Most of these expenses can be deducted from the income to arrive at the net profit (also known as net income or taxable... read more →

Fixed assets and depreciation

If you are a self employed individual or an SME, it's likely you'll have purchased some fixed assets for your business. While TaxSnaps can help you securely store your invoices... read more →

Home office expenses

For business owners who do some work from home, make sure you claim a portion of your home office expenses in your end of year Income Tax return. A recent... read more →

Residential Rental Income

Income that you receive from renting out a property is called residential rental income. If you are a landlord you will be liable for income tax and this will need... read more →

The information on this website is designed as a guide to assist you with your understanding of tax recording and reporting. While every effort has been made to ensure the information on the website is accurate and up to date, it should not be replied solely upon for advice. Please consult a tax professional for further clarification.