<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=912213432281253&amp;ev=PageView&amp;noscript=1">

Upcoming reminder dates

15

January

Provisional tax instalments, student loan interim payments, GST and employers' returns and payments due.

28

January

GST returns and payments due.

 

 

 

 

 

 

28

February

Provisional tax payments for ratio option customers.

 

GST returns and payments due. 

 

28

March

GST returns and payments due. 

 

 

 

 

 

 

28

May

GST returns and payments due. 

 

 

 

 

 

 

Note: If any of the dates above fall on a weekend, then the new due date will be the next working day.

If you have any questions around your due dates please don’t hesitate to contact us directly on 0800 555 024 or email info@rightway.co.nz

Tax calendar

Tax Calendar 2017 - 2018. Now avaliable to download.

Frequently asked questions

Q

Can I claim GST on payments like Google, Facebook, LinkedIn etc?

A

These transactions should have no GST unless otherwise stated on the invoice as the transactions are being charged overseas and often have no GST.

QUICK TIP

Create a bank rule within Xero so that you don’t need to think about this every time a transaction pops up on your bank feed.

It will automatically reconcile the transaction with the correct GST amount.

See video below.

Q

What if I make a mistake in Xero?

A

It’s easy enough to enter the wrong amount, code things with the wrong GST treatment or miss an invoice. 

If it is a small error this can be fixed in the next GST return.  However, if it is a large error it can be a costly to fix up both in terms of compliance and compounding interest and penalties. 

QUICK TIP

If you’re a RightWay client this won’t be an issue as we take care of your GST returns and during that time we ensure your general ledger is correct and up to date.

For any Xero questions please contact our dedicated Xero Support Team on xero@rightway.co.nz

Q

Do I record GST on wages and salaries?

A

These transactions should have no GST.

QUICK TIP

Create a bank rule within Xero so that you don’t need to think about this every time a transaction pops up on your bank feed.

It will automatically reconcile the transaction with the correct GST amount.

See video below.

Q

Do I charge GST on everything?

A

In short, if you’re GST registered you must charge GST on all goods and services sold. 

We know sometimes it’s easy to think if I just cut the GST off I’d be more competitive, but then you’ll end up not charging enough to cover GST if your turnover is low. 

QUICK TIP
Talk to us, we can help you improve your margins and talk over whether being GST registered is the best thing for you and your business.

Q

Do I pay GST on payments to my contractors and subies?

A

Only contractors and subies that are registered for GST should have GST charged and therefore claimed. 

QUICK TIP
Always check when dealing with a subie for the first time that they are registered and then set up a bank rule. By doing this every time you pay that particular subie they will automatically be coded with no GST.

Q

Can I claim GST on overseas travel? ie: Air New Zealand flights, other flights, entertainment and accommodation.

A

These transactions will have no GST charged as no GST applies on overseas flights, entertainment etc.
QUICK TIP
If you’re not sure then give us a call to discuss.

Q

Can I claim I GST on clothing that I wear outside of work? ie: jeans.

A

A uniform is generally defined distinctive clothing or protective gear or has a company logo it, if it meets these criteria then GST would be claimable.

If it is a pair of jeans that you’d wear outside of work, there should be no GST claimed on this.

Q

Can I claim GST on imports?

A

Yes, GST on imports is essentially you paying the GST on the border so that the entire amount paid can be claimed as GST paid in your next GST return.

QUICK TIP
See our Help Centre below for more information.

Q

Can I claim 100% of GST on assets purchased used for both business and private?

A

If you purchase an asset for your business but are going to use it personally as well, then we need to apportion the GST claimed to reflect the business v private use and only claim the percentage that relates to the business use.

QUICK TIP
To find out more simply give us a call to discuss.

Still have questions? You can download more frequently asked questions below.

Help centre

How to record and reconcile part payments

Record a part payment on an invoice, bill or expense claim when reconciling the payment in the bank account.

Using bank rules to automate reconciliation in Xero

We all have day-to-day costs when doing business. Coffee with a prospective customer or just paying off your phone bill. When those transactions flow into Xero you can use bank rules to categorise them automatically.

Account for GST on imports in Xero

Screen Shot 2017-09-14 at 12.33.15 PM.png

Record GST you pay on imports so Xero takes it into account when calculating your GST payable or refundable. Xero has a special 'GST on Imports' tax rate to account for this.

Click here to find out more.

How to create a

bank rule

Create a bank rule to help

you reconcile bank statement lines that you haven't created transactions in Xero for.

Click here to find out more.