So you’re GST registered and your filing period is coming to an end. Time to file your GST return!
Don’t worry – while it might sound intimidating, filing your GST return is actually pretty straightforward. Basically, all you’re doing is telling the IRD how much GST you’ve collected from your clients, how much GST you’ve paid on business expenses, and settling the difference.
Simple!
What you’ll need before you start
Before you dive into myIR (the IRD’s online portal), make sure you’ve got these three things ready:
Your total sales and income: This includes all the money you’ve earned during the relevant GST period, including any GST you’ve charged clients.
Your total purchases and expenses: All your business expenses that included GST, like office supplies, equipment, or materials.
Any adjustments: These are corrections from previous periods. If you’re not sure what this means, you probably don’t have any. Lucky you!
💡 It’s super helpful to keep your GST records organised as you go! Future you will thank present you when filing time rolls around.
Filing your GST return
Step 1: Log into myIR
Head over to myIR and log in using your credentials. If you don’t have myIR set up yet, you’ll need to register – filing online is generally the easiest way to sort your GST returns.
Step 2: Find your GST return
First, Click ‘Returns and transactions’ next to your GST account.
Then, look for the ‘File return’ link next to the period you’re filing for (it’ll show a date like 31-Mar-2025). Click on this to get started.
Step 3: Choose your filing method
You’ll see two options:
- GST amounts: This is where you enter the actual GST figures
- Total sales and purchases: This option lets you enter your full amounts, and the system calculates the GST for you
Choose whichever feels more comfortable. Both lead to the same result.
Step 4: Fill in the details
Now for the main event! You’ll need to enter:
- Sales and income details: All the money you’ve earned during this GST period
- Purchases and expenses: Your business costs that included GST
- Any credit or debit adjustments: Remember, this is only if you have corrections from previous periods
Take your time here. It’s always a good idea to double-check your figures – nobody likes having to go back and fix mistakes later.
Step 5: Review everything
Before you submit, the system will produce an assessment. This is basically a summary showing whether you owe GST to the IRD, or if they owe you a refund.
You’ll need to give it a good look-over to make sure everything seems right.
Step 6: Sort your payment or refunds
If you owe money, you can pay immediately by direct debit, credit card, or debit card. Or you can choose to pay later if you need more time to sort out your finances.
If you’re getting a refund (lucky you!), the IRD will pay it within 15 working days. No action needed on your part.
Step 7: Submit Your Return
You can also attach any supporting documents if needed, like receipts or tax invoices. Once you’re happy, hit that submit button!
What happens next?
Once your return is submitted, you’re done! The IRD will process everything, and if you’re due a refund, it’ll appear in your bank account within 15 working days.
Made a mistake? Don’t panic. You can fix errors in your return even after you’ve submitted it.
Don’t forget the due date
Your GST return is generally due on the 28th day of the month after your GST period ends. Miss this date, and you could face penalties and interest charges – definitely not fun for your bank balance.
You can always set a reminder in your phone or calendar, so you’re always on top of things. Or better yet –
Hnry can do it for you
Look, we get it. Filing GST returns isn’t exactly the highlight of anyone’s week. If you’d rather spend your time doing what you do best (and earning money), you could always let Hnry handle all this admin stuff for you.
For just 1% +GST of your self-employed income (capped at $1,500 +GST per year), we’ll calculate, file, and pay all your taxes – including your GST returns. No more due dates to remember, no more forms to fill out, and no more worrying about whether you’ve done it right.
Plus, we handle all your other financial admin too, like claiming expenses and invoicing. Basically, we’re like having a personal accountant, but way more affordable and much less intimidating.
Filing your GST return doesn’t have to be a nightmare. With a bit of preparation and the right approach, you can get through it quickly and get back to the fun stuff – like actually running your business.
So what are you waiting for? Join Hnry today!
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