Do companies need to register for GST?

Yes, if your company's taxable turnover reaches the threshold, GST registration is compulsory. The rules are the same for companies as they are for sole traders.

When you must register

Your company must register for GST if:

• Your turnover in the last 12 months was $60,000 or more, or
• You expect your turnover to reach $60,000 or more in the next 12 months

Voluntary registration

You can register for GST even if your turnover is under $60,000. This can be beneficial if your customers are GST-registered businesses (they can claim back the GST you charge), or if you have significant GST expenses you want to reclaim.

What GST rate applies?

The standard GST rate in New Zealand is 15%. This is added on top of your prices when invoicing GST-registered customers.

Filing your GST returns

Once registered, you'll file GST returns either monthly, two-monthly, or six-monthly depending on your turnover and preference. Returns are filed through myIR on the IRD website.

What if you don't register in time?

If you don't register when you're required to, IRD can charge back-taxes on GST that should have been collected, plus penalties and interest. It's important to monitor your revenue and register promptly when you hit the threshold.

Source: ird.govt.nz — Registering for GST | business.govt.nz