On September 19, 2016 the New Zealand Inland Revenue published two GST guides. The first guide is a guide titled “GST guide - Working with GST” (IR375). The second guide is a guide titled “GST plus - Working out specific GST issues” (IR546).
GST guide - Working with GST
This entry level guide as the New Zealand Inland Revenue describes it, discusses a.o. the following topics:
· Explaining GST
o What GST is charged on
o Understanding your basic GST requirements
o What GST isn't charged on
o Record keeping
o What information do I give to my customers?
· How to complete and file GST returns
· Cancelling your GST registration
· Supplies
o Exempt supplies
o Zero-rated supplies
o Not eligible for zero-rating
o Special supplies
· 1 October 2010 GST rate change
· Your rights and obligations
· Quick reference checklist
Click here to be forwarded to IR375: “GST guide - Working with GST” as available on the website of the New Zealand Inland Revenue, which will open in a new window.
GST plus - Working out specific GST issues
According to the New Zealand Inland Revenue the guide covers a number of infrequent and/or complex GST issues which will only apply to a limited number of registered persons, or will only occur under certain conditions.
The guide discusses a.o. the following subjects:
· Adjustments
o Change of accounting basis
o Assets kept after you cease to be registered
· Exempt supplies
o Donated goods and services sold by a non-profit body
o Financial services
o Fine metals
· Zero-rated supplies
o Copyrights and patents
o Domestic transportation of household goods
o Duty-free shops
o Exported aircraft
o Exported goods
o Exported ships
o Goods destroyed before export
o Goods not in New Zealand at the time of supply
o Services performed outside New Zealand
o Remote services supplied from outside New Zealand
o Services relating to goods to be exported
o Services relating to portable personal property
o Services supplied to non-residents outside New Zealand
o Services zero-rated but carried out in New Zealand
o Some financial services
o Some imported services
o Specialised tools
o Supplies to foreign-based pleasure craft
o Temporary imports
o Transport of goods to and from New Zealand
o Transport of passengers to and from New Zealand
· Special supplies
o Agents
o Coin and token-operated machines
o Exported secondhand goods
o Emissions Trading Scheme
o Foreign currency payments
o GST on imported services - reverse charge
o Lotteries and other games of chance
o Non-resident businesses and GST
· Further GST rate change adjustments
o Adjustments for finance lease payments
o Adjustment for qualifying supplied
· Non-resident businesses and GST
o Non-resident GST business claimants
o Non-resident businesses supplying remote services
Click here to be forwarded to IR546: “GST plus - Working out specific GST issues” as available on the website of the New Zealand Inland Revenue, which will open in a new window.
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