In New Zealand, sole traders, partnerships, and companies must file specific tax returns with Inland Revenue (IRD) based on their business structure.
IR3: Individual Income Tax Return for Sole Traders
New Zealand resident sole traders report their income using the IR3 – Individual Income Tax Return. This return is required if an individual earns more than $200 (before tax) in a financial year.
Additionally, shareholder-employees who receive a salary without PAYE deducted must also include this income in their IR3 return.
IR10: Financial Statement Summary for Companies
Companies must file an Companies income tax return (IR4) each year.
IR7: Tax Return for Partnerships and Look-Through Companies (LTCs)
For partnerships and Look-Through Companies (LTCs), the IR7 tax return is used to report income and allocate profits or losses to partners or shareholders.
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