How to cancel GST Account Registration in 2021
In New Zealand, any form of business, including a company, self-employed person, or partnership, that has earned more than NZ$60,000 (NZ$60,000) over the past 12 months, or is expected to be over the next twelve months, must register for the GST tax number and read several articles in the knowledge base on the New Zealand website. "Turning the other way, when a company's annual turnover or an estimated turnover of less than NZ$60,000 over the next 12 months, a company that has registered a GST may choose to retain its tax registration or cancel the GST registration with the IRD (which does not affect the company's operation and will simplify the company's tax problems to some extent)."
Of course, this is rare, and more often than not, when the company is ready to close (stop operating), New Zealand law requires that GST registration be canceled and all taxes receivable and payable be cleared before it can proceed.
How do I cancel the registration of the GST?
First, let's look at some of the rules and obligations that must be followed to write off the GST:
1, when the business needs to write off the GST because of the closure, the company's remaining assets if need to be converted to personal use, according to market value to calculate their "residual value" contained in the GST, for this part of the GST business needs to make a final declaration
2, the IRD will require merchants to keep all tax receipts for seven years even after the GST is written off unless the company is closing the door
3. After the cancellation of GST, the undeclared portion of the tax activity that occurred before the write-off date still needs to be reported to the GST and taxed according to the amount, or tax refunded
Well, after reading the rules and obligations that need to be followed, enter the "cancel" link. Two methods are the simplest:
1, log on to the IRD's website, go to myIR, click on your company's GST Account, then click Onsl Account Registration, and then follow the prompt step by step
2. Call the Inland Revenue Department (not recommended, long waiting time, and inconvenient) 0800 377 776
If you don't hear well, you can also write an e-mail to [email protected] (not in English, but in the ear).
Of course, this is rare, and more often than not, when the company is ready to close (stop operating), New Zealand law requires that GST registration be canceled and all taxes receivable and payable be cleared before it can proceed.
How do I cancel the registration of the GST?
First, let's look at some of the rules and obligations that must be followed to write off the GST:
1, when the business needs to write off the GST because of the closure, the company's remaining assets if need to be converted to personal use, according to market value to calculate their "residual value" contained in the GST, for this part of the GST business needs to make a final declaration
2, the IRD will require merchants to keep all tax receipts for seven years even after the GST is written off unless the company is closing the door
3. After the cancellation of GST, the undeclared portion of the tax activity that occurred before the write-off date still needs to be reported to the GST and taxed according to the amount, or tax refunded
Well, after reading the rules and obligations that need to be followed, enter the "cancel" link. Two methods are the simplest:
1, log on to the IRD's website, go to myIR, click on your company's GST Account, then click Onsl Account Registration, and then follow the prompt step by step
2. Call the Inland Revenue Department (not recommended, long waiting time, and inconvenient) 0800 377 776
If you don't hear well, you can also write an e-mail to [email protected] (not in English, but in the ear).
