When Are Tax Returns Due 2021 Nz

Tax returns in New Zealand are due on the 7th of July 2021. The deadline is the same for individuals and businesses. It is important to make sure your tax return is lodged before this date to avoid any possible fines or penalties. Tax returns can be lodged online, through mail or in person at an approved tax center. The Inland Revenue Department offers a range of services and online tools to help with filing your tax return and understanding the rules that apply to your particular situation.The due date for NZ residents to submit their income tax returns for 2021 is the 7th of July 2021.

Who Needs to File an Income Tax Return in 2021 NZ?

Income tax returns must be filed by any individual who has earned income in New Zealand during the 2021 tax year. This includes individuals who are either employed, self-employed, or have rental income and/or investment income. It also applies to those who have received New Zealand Superannuation or other forms of social assistance. In addition, it is important to note that if you are a non-resident for tax purposes and have earned income in New Zealand during the 2021 year, then you must also file a tax return.

The due date for filing your 2021 tax return is 7 July 2021 if you are filing online. If you are filing using a paper return, then the due date is 31 March 2022. It is important to note that these dates may be extended depending on your particular circumstances. Failing to file your tax return on time will incur penalties so it is important that you meet the deadlines outlined above.

If your taxable income exceeds $70,000 per annum then you are required to make provisional tax payments throughout the year and file an end of year terminal tax assessment with Inland Revenue before 7 July 2021 (or 31 March 2022 for paper returns). If you fail to make these payments or file the assessment on time then you may incur interest charges and penalties from Inland Revenue.

It is also important to note that if you are entitled to a refund from Inland Revenue which exceeds $5,000 then this amount must be claimed within two years from the due date of your return – otherwise it will be forfeited. Therefore it is important that all taxpayers meet their obligations and submit their returns on time in order to avoid any potential late filing penalties or forfeiting entitlements.

Deadlines for Filing a 2021 Tax Return in NZ

It is important to know the deadlines for filing a 2021 tax return in New Zealand. The due date for filing your 2021 tax return is 7 July 2021. This applies to both online and paper returns. If you are late filing your return, you may incur penalties and interest from Inland Revenue. You should also be aware that there are additional deadlines for certain taxpayers, such as self-employed people and rental property owners.

Inland Revenue requires that all people who earn an income of more than $25,000 must file a tax return. This includes employees, contractors and people who have rental income or capital gains from investments or other sources. Self-employed people must also file a separate business income tax return regardless of their total income level.

If you’re self-employed, the due date for filing your 2021 tax return is 31 March 2022. For businesses with GST-registered clients, the due date is 28 April 2022. Rental property owners must file their returns by 7 July 2022 if they are registered for GST or 28 February 2022 if not registered for GST.

It is important to note that these dates may change depending on whether you are an employee, contractor or self-employed person, so it’s important to check with Inland Revenue before filing your return. Additionally, if you miss any of these deadlines, you may incur penalties and interest from Inland Revenue which can add up quickly if left unpaid.

Overall, it is important to be aware of the various deadlines that apply when filing your 2021 tax return in New Zealand so that you can submit it on time without incurring any penalties or interest charges from Inland Revenue. By understanding the relevant due dates and ensuring that all your paperwork is completed correctly and accurately before submitting your tax return on time will ensure that you remain compliant with the law and avoid any additional fines or fees from Inland Revenue.