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Technical tax area Ngā tūmomo whakataunga me ngā aratohu

New GST due date for March taxable periods

Sections MB 13, MB 14, MB 24, MB 27, and Schedule 13 of the Income Tax Act 2004, and sections 120KC, 120KD of the Tax Administration Act 1994, and section 16 of the Goods and Services Tax Act 1985

To provide more time for businesses and tax agents to comply with their GST obligations and, from next year, to comply with their provisional tax obligations, the due date for the March GST returns has been extended to 7 May.

Background

For taxable periods ending on or after March this year the due date for GST returns will change from the last working day of the month to the 28th of the month. Where the 28th falls on a weekend or public holiday, the due date will be the next working day. However, where GST returns are due over the Christmas period (November returns) the due date is extended to 15 January.

Consultations with tax agents has identified that the combination of the changes to the GST due date, bringing it forward by up to three days, and the introduction next year of provisional tax payments aligned to GST due dates could increase businesses' and tax agents' workloads over the Easter period. Also this increased workload occurs during a period where the number of working days available to do the work is reduced as a result of the Easter period.

Application date

The new due date for March GST returns applies to taxable periods ending on or after 31 March 2007.

Key features

Sections 16(2) and (5) have been amended to change the March taxable period due date from 28 April to 7 May.

Also a number of consequential amendments have been made to the examples that appear at the end of sections MB13, MB14, MB 24, and MB 27 of the Income Tax Act 2004 and sections 1 0KC and 1 0KD of the Tax Administration Act to reflect the new due date for the March GST taxable period.

Also Schedule 13, Part A of the Income Tax Act 2004 has been updated to reflect the new due date.