Self-employment – Tax Return
$289 (not GST-registered)

This is perfect for you if you are self-employed (full-time or part-time) and are not GST-registered. This could mean that you worked for cash during the year, or you run your own very small business and have expenses to claim.

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I earn wages but have other income sources, like the painting job I did on the weekend. Although these aren’t much in the big scheme of things, it means I have to file an IR3.

Are you GST-registered? If so, you need our Small Business Tax service.

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What you will need:

  1. A scanned copy of your drivers license, or (if you don’t have a licence) a scanned copy of the picture page of your passport. It is an IRD requirement that we correctly identify you.
  2. Your IRD number.

What you need to know:

What is classed as other income?
If you performed a service or produced goods for someone and they paid you directly (no tax was taken), this is usually considered “other income”. This includes the following common scenarios:

  • Working for cash. This could be a job on the side, other than your salary or wage job.
  • Received a one-off payment for an odd job or sale. Again, you could be simply supplementing your salary or wage job with this income, but it does need to be declared.
  • Self-employed full-time tradesmen would be a good example. Their main income is untaxed income.

Why am I required to declare this income?
You are required to pay tax on all of your income. Because income earned through self-employment has not been taxed at source (when it was paid to you), you are required to square this up with the IRD at the end of each tax year. The way to do this is on an IR3 tax return.

What happens if I run at a loss?
If you are self-employed full-time, you will most likely carry that loss forward to the next tax year, where you can claim it against any profit you make. This will reduce the tax that you have to pay on that future profit. If you are supplementing a salary or wage job with your income through self-employment, you will claim the loss against your income. This often produces a tax refund.

What does it cost to file a tax return declaring self-employment income?
As long as you are not registered for GST, FreshTax will charge just $289 per IR3 return.
If you are GST-registered, please give us a call to talk about the type of work that you do. You may need our Small Business Tax service.

What if I have not recorded any expenses against my income on the form?
We encourage you to talk to us before submitting your form. We may be able to help you track down and record some of the expense records. It might be easier than you think. Just call us on 0800 18 18 19.

Still have questions?

Talk to the team on 0800 18 18 19
or

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