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Good books, good business

A teal banner with the words "Good books = good business"
A teal banner with the words "Good books = good business"

Keeping good books not only means you’re complying with the law, it’s also good for your business (and a good night’s sleep).

Accurate bookkeeping has many benefits:

  • It's easier to see what's going on in your business
  • Your business will be worth more if you want to sell it.
  • It makes it easier to get a loan.
  • It’s much easier to keep your tax records.

Find out more about keeping good records

It takes a lifetime to build a good reputation, but you can lose it in a minute

The hospitality sector sustains New Zealand and most business owners are doing the right thing. But you should be aware that Inland Revenue does prosecute businesses who are under-reporting sales, paying under-the-table wages, and under-paying GST. You’ve worked hard to build a good reputation, protect it by meeting your tax obligations. We can help and so can tax agents.

Putting your past tax returns right

If you've left some income off your tax return tell us now, rather than wait for us to find out some other way.

By making a full voluntary disclosure you may benefit by:

  • not being prosecuted in court.
  • having your shortfall penalty reduced by up to 100%.

Choosing not to tell us may lead to:

  • late payment penalties
  • shortfall penalties, and
  • prosecution.

Find out more about putting your tax returns right

It's never too late to do the right thing

If you need help putting your returns right, please contact your tax agent. If you'd prefer to talk it through with us, you can make an appointment with one of our Community Compliance Officers - we'll even come to you if you prefer.

Know someone who's not playing fair? You have an important role in keeping your industry fair for all. If you know someone who is doing undeclared cash jobs you can let us know confidentially.