Getting Your GST Right the First Time

GST seems simple on the surface: charge 15 percent, claim back what you spend, file a return. But in practice, the details catch people out. Mixed supplies, exempt goods, claimable expenses and timing all create room for error.

The most common mistake is claiming GST on expenses that are not claimable. Entertainment costs, private-use portions and goods bought from non-registered suppliers all need careful treatment. A good rule of thumb: if you are not sure, ask before you claim.

Another frequent issue is timing. GST is due based on your filing period, and late filing attracts penalties and interest. If you are on a two-monthly cycle, mark your return dates in the calendar or, better yet, let us track them for you.

Finally, keep good records. A clean trail of invoices and receipts makes GST returns straightforward and keeps you safe if IRD ever asks questions. If your records are a mess, we can help you get them in order.