Sole Trader GST Guide 2026 (NZ)

GST rates and what to charge

• ✔ Standard rate: 15% on most goods and services
• ✔ Zero-rated: exports, some land transactions (special rules apply)
• ✔ Exempt: financial services, residential rent
• ✔ If in doubt: quote prices as "+ GST" until confirmed

Record keeping checklist

• ✔ Tax invoices for sales (name, GST number, date, description, amount, GST)
• ✔ Receipts/bills for expenses (to claim GST credits)
• ✔ Separate personal vs business spending
• ✔ Bank feeds or CSV imports kept tidy for audit trail
• ✔ Keep records for at least 7 years

Filing and payment deadlines

• ✔ Standard two-monthly: returns due the 28th of the following month
• ✔ April return due 7 May; December return often due 15 Jan
• ✔ Set calendar reminders and use IRD myIR
• ✔ Late filing/payment incurs penalties and interest

Common pitfalls

• ✖ Mixing personal and business expenses
• ✖ Forgetting GST on overseas software subscriptions (reverse charge may apply)
• ✖ Claiming GST on exempt items (e.g., residential rent, some financial services)
• ✖ Not adjusting for private use on assets (cars, phones)

Quick workflow with Wootz

1. Import bank transactions via secure CSV (no bank passwords needed).
2. Tag income/expenses and attach tax invoices or receipts.
3. Review GST summary; export figures for IRD filing.
4. Set reminders for due dates; lock periods after filing.