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


View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 
3885 posts

Uber Geek

Subscriber

  # 2059958 21-Jul-2018 13:36

Delphinus:

tchart: 
2) Sometimes I wish I wasn't GST registered as you have to do a GST return every few months which is a pain if you have lots of expenses etc.
3) I'd say unless you are contracting outside of your contract I'd probably avoid registering for GST if you can - I was told it was optional.


I'd completely disagree with this. Being GST registered is brilliant, being able to get a 15% instant discount on all goods like buying yourself a new PC/Laptop, phone, your internet connection, phone plan etc etc. Since Xero does all the calculations for you, it's a 2 min process to quickly skim the GST report in Xero, hit the Send to IRD button, then pay what is owing. 2mins work for 15% discount works for me 



Also not being registered for GST is only a benefit to your client, if the client is also not registered for GST. (pretty much only domestic clients). For GST registered clients, the GST that they pay you, is money that they would instead be paying to the IRD if you were not GST registered.

About the only kinds of business that would benefit from not registering for GST, are things like self employed house cleaning, in home childcare etc. Where the main input cost is your own Labour, and the clients are unlikely to be registered for GST.







92 posts

Master Geek

Trusted

  # 2059968 21-Jul-2018 14:26
Send private message

@timmmay I believe the rule changed a couple of years back - and didn't automatically apply to those working as contractors prior.  I think that all new contractors must register for a tax rate or get an exemption.  Good point about offsetting my mortgage.  I actually re-did my bathroom recently and still have my revolving credit open.  May as well put the tax in there to ease the interest.

 

 

 

 


1 | 2 
View this topic in a long page with up to 500 replies per page Create new topic



Twitter and LinkedIn »



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:





News »

Arlo unveils its first video doorbell
Posted 21-Oct-2019 08:27


New Zealand students shortlisted for James Dyson Award
Posted 21-Oct-2019 08:18


Norton LifeLock Launches Norton 360
Posted 21-Oct-2019 08:11


Microsoft New Zealand Partner Awards results
Posted 18-Oct-2019 10:18


Logitech introduces new Made for Google keyboard and mouse devices
Posted 16-Oct-2019 13:36


MATTR launches to accelerate decentralised identity
Posted 16-Oct-2019 10:28


Vodafone X-Squad powers up for customers
Posted 16-Oct-2019 08:15


D Link ANZ launches EXO Smart Mesh Wi Fi Routers with McAfee protection
Posted 15-Oct-2019 11:31


Major Japanese retailer partners with smart New Zealand technology IMAGR
Posted 14-Oct-2019 10:29


Ola pioneers one-time passcode feature to fight rideshare fraud
Posted 14-Oct-2019 10:24


Spark Sport new home of NZC matches from 2020
Posted 10-Oct-2019 09:59


Meet Nola, Noel Leeming's new digital employee
Posted 4-Oct-2019 08:07


Registrations for Sprout Accelerator open for 2020 season
Posted 4-Oct-2019 08:02


Teletrac Navman welcomes AI tech leader Jens Meggers as new President
Posted 4-Oct-2019 07:41


Vodafone makes voice of 4G (VoLTE) official
Posted 4-Oct-2019 07:36



Geekzone Live »

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


Support Geekzone »

Our community of supporters help make Geekzone possible. Click the button below to join them.

Support Geezone on PressPatron



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.