When there is an income tax, the just man will pay more and the unjust less, on the same amount of income.
You will of heard saying many times… cash is king in business. And it has never been more relevant when talking about paying tax and GST on the due date.
If you don’t pay your tax or GST on time, the IRD charges steep interest as well as late payment penalties. One of the first lessons to learn in business is to put money aside for tax and GST, every time you receive money in for work completed.
There are many common GST mistakes that you can make, and we can save you a lot of trouble further down the track, if you get it right the first time.
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Staying on top of tax and gst! Always seek the advice of your accountant so they can come up with a strategy that ensures you pay GST and tax on time.