Individual Income Tax returns

Individual income tax return

Many individuals do not need to complete income tax returns because during the year they were full time employees of the same company, having received an income from only one source and paid the correct tax during the year.  Many individuals are required to complete income tax returns in order to ensure compliance with the New Zealand tax laws and avoid possible complications with the Inland Revenue Department in the future.

Examples of the circumstances when you may be required to complete your tax returns include;

• You have established or need to establish an LAQC or Trust for your property investments
• You own the company where you are employed
• You have been made redundant
• You have changed places of employment during the year
• You have been working overseas
• You operate your own business
• You have been receiving income from overseas

Business Advisory Accounting & Tax Services will take a rigorous approach to assessing your tax situation.  We will start from identifying your income sources and working out appropriate tax codes.  We will check the correctness of your current arrangements to improve the efficiency of your loss/income attribution.  A result of our work can be a tax refund, but in any case we can ensure that you have paid the correct amount of tax and therefore can feel confident about your tax position.