The due date for income tax returns is 7 July.
If you are self-employed or a business owner, you need to file by the due date so Inland Revenue has up-to-date income information and can correctly calculate your tax.
Filing on time also means you do not get hit with penalties.
How to file
The quickest and easiest way to file your income tax return is to do it online, using myIR.
If you don’t have a myIR account, you can register for one on the Inland Revenue website.
Filing online using myIR means the details Inland Revenue already holds for you, or the organisation you’re filing for, will be pre-populated.
You’ll receive immediate confirmation that your return has been received.
What to file
The type of income tax return you need to file will depend on your situation.
If you’re earning income other than salary and wages, for example any self-employed income, rental income and income from cash jobs, you’ll need to file an IR3 income tax return to declare this.
If you’re running a business or organisation, for example a partnership, company, trust/estate, Maori authority or a club/society, you’ll need to file a return to account for any income these organisations earn.
Other information that may be required
Claiming mortgage interest for rental properties
If you’re claiming interest expenses, you need to complete the interest field in your return.
If you’ve sold a property that meets the bright-line test, you’ll need to complete a Bright-line property sale information form - IR833 as well as including any share of profit in your tax return.
Cryptoasset income
If you have been paid in cryptoassets, or have sold or traded one crypto for another, you must include any profit or loss in your income tax return.