Geekzone: technology news, blogs, forums
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.

102 posts

Master Geek

Topic # 114664 26-Feb-2013 22:26 Send private message

Hi all! We're planning to open a business (service centre). Since it's almost the end of tax year, is it wise to just wait till, say 1st of April to register or start trading? Unfortunately my accountant is on leave at the moment so I can't ask her. Maybe you guys can help us.

Thanks in advance!

Create new topic
1109 posts

Uber Geek
+1 received by user: 89

  Reply # 770862 27-Feb-2013 08:20 Send private message

If you want to get cracking then the answer is no. If you dont plan to open for trading for a month your tax return will be very very simple, and you could do this one yourself, rather than relying on your accountant who probably charges 1-2K for a return. If you are ready to get going, there is no time like the present!

12145 posts

Uber Geek
+1 received by user: 846


  Reply # 771140 27-Feb-2013 16:40 Send private message

If you buy stuff now you will be able to get a gst refund, and I assme have minimal sales till the next period. The refund may be helpful now. but you will be paying back next period when youre profitable.


1662 posts

Uber Geek
+1 received by user: 112


  Reply # 771141 27-Feb-2013 16:42 Send private message

Make sure you register for GST before you start buying stuff. It will make it easier to claim back the GST.

7833 posts

Uber Geek
+1 received by user: 461

  Reply # 771142 27-Feb-2013 16:45 Send private message

Speak to an accountant, and also a good opportunity to find a good one.

102 posts

Master Geek

  Reply # 771855 28-Feb-2013 17:46 Send private message

Thanks for the replies guys. Appreciate it. All the best!

1680 posts

Uber Geek
+1 received by user: 258

  Reply # 771856 28-Feb-2013 17:49 Send private message

Pwned: Thanks for the replies guys. Appreciate it. All the best!

The main thing is that you'll have to file a 2012-2013 tax-return and pay the accountant. 

It might be cheaper to wait until april 1st to avoid paying your accountant to file a tax return. 

Depends on how much you will be making in sales though -- if you wait you miss out on sales.

12145 posts

Uber Geek
+1 received by user: 846


  Reply # 771875 28-Feb-2013 18:53 Send private message

You only need to start to worry about the accountant when you are depreciating stuff etc. If its all new this month then it should be straightfoward.


525 posts

Ultimate Geek
+1 received by user: 68

  Reply # 771943 28-Feb-2013 21:20 Send private message

Depends if you need to make money? Carpe diem and all that...

Create new topic

Twitter »
Follow us to receive Twitter updates when new discussions are posted in our forums:

Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:

Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:

Trending now »

Hot discussions in our forums right now:

Smoke billows from Auckland mall after "explosion" - Westfield West City
Created by freitasm, last reply by hio77 on 27-Feb-2015 19:33 (41 replies)
Pages... 2 3

Why does Lightbox have a suicide wish?
Created by dafman, last reply by NonprayingMantis on 2-Mar-2015 16:04 (88 replies)
Pages... 4 5 6

Privacy concerns on returning faulty microSDXC
Created by dpw, last reply by networkn on 2-Mar-2015 15:39 (29 replies)
Pages... 2

Galaxy s6 announcement and owners thread
Created by Shoes2468, last reply by richms on 2-Mar-2015 16:26 (52 replies)
Pages... 2 3 4

HTC One M9 (2015) Announcement and Discussion
Created by Dingbatt, last reply by markl on 2-Mar-2015 17:51 (39 replies)
Pages... 2 3

Uber Taxi Rides - $10 off first ride.
Created by kiwijunglist, last reply by gzt on 1-Mar-2015 23:38 (18 replies)
Pages... 2

The Evil that is ISIS
Created by networkn, last reply by joker97 on 28-Feb-2015 22:47 (201 replies)
Pages... 12 13 14

Spark Open Term Plan Changes? (27/2)
Created by taneb1, last reply by funnyfela on 28-Feb-2015 15:03 (37 replies)
Pages... 2 3

Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.

Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.