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Thread ID: 117403	2011-04-17 01:26:00	GST Questions	czar (16341)	PC World Chat

Post ID	Timestamp	Content	User
1195092	2011-04-17 20:58:00	GST isn't onerous if you do your book-keeping properly. If you're not keeping proper records, then you should't be in business. My GST return is done every 6 months - in the meantime, I keep the GST that I charge in an interest bearing account (I only have a couple of invoices a month), so I get the use of my money (interest, less withholding tax) instead of the suits.	johcar (6283)
1195093	2011-04-18 00:46:00	GST isn't onerous if you do your book-keeping properly. If you're not keeping proper records, then you shouldn't be in business. My GST return is done every 6 months - in the meantime, I keep the GST that I charge in an interest bearing account (I only have a couple of invoices a month), so I get the use of my money (interest, less withholding tax) instead of the suits. johcar, I've been away from book-keeping for 18 years, now I wonder how many are like you and making use of the GST like yourself. Wouldn't Cash Book be a good free program for accounts for keeping track of GST. Lurking.	Lurking (218)
1195094	2011-04-18 00:52:00	GST isn't onerous if you do your book-keeping properly. If you're not keeping proper records, then you should't be in business. ^x2. It's really not hard.	Erayd (23)
1195095	2011-04-18 01:05:00	johcar, I've been away from book-keeping for 18 years, now I wonder how many are like you and making use of the GST like yourself. Wouldn't Cash Book be a good free program for accounts for keeping track of GST. Lurking. Cashbook Complete (http://www.acclaim.co.nz/) is what I use (I have no affiliation with them). Apart from a dated interface, the program does everything I need it to do - and I HATE doing the bookkeeping side of things. Been using it for about 6 or 7 years now...	johcar (6283)
1195096	2011-04-18 01:12:00	^ Same here. Software takes a lot of the hassle out. Come return time, punch in your GST period and copy the info to your return. The only real hassle is keeping on top of your "paperwork", ie data entry for invoices/purchases, etc, into Cashbook or similar.	Renegade (16270)
1195097	2011-04-18 03:43:00	Claim refunds on all business related expenses or purchases (15% adds up very quickly, love those refunds when they arrive), and so long as you add the GST on to your prices you can't go wrong. If you quote, whenever possible give the price as exclusive of GST, that is your price to the client. It makes your charges look lower and the extra 15% is a government tax that they will probably claim back anyway, just like you should be doing for all business expenses. We win some and we lose some, but on balance it is better to be GST registered than not, especially if you have any significant operating expenses or if your turnover is respectable. There is nothing worse than an IRD investigation and a back-tax bill, or worse if you have been fudging it. Cheers Billy8-{)	Billy T (70)
1195098	2011-04-18 04:15:00	What happens to someone in my situation? Work full time making X $ per year. Then doing web design on the side. Paying tax on both (Full time is paid by employer, web by me). But not paying gst on web stuff? If I was going well id only just be over the $60k bracket anyway (most likely not :-( ) but if I thought I might be? Or is GST not calculated on individuals turnover?	hueybot3000 (3646)
1195099	2011-04-18 04:23:00	What happens to someone in my situation? Work full time making X $ per year. Then doing web design on the side. Paying tax on both (Full time is paid by employer, web by me). But not paying gst on web stuff? If I was going well id only just be over the $60k bracket anyway (most likely not :-( ) but if I thought I might be? Or is GST not calculated on individuals turnover? If you were billing over $60k for your web design, I believe you'd need to be GST registered. however, as far as I am aware, wage/salary from employment does not count towards this $60k limit, though I may be mistaken.	inphinity (7274)
1195100	2011-04-18 04:24:00	That's what I thought as well but thought I should check it out. I don't bill anywhere near $60k (yet)	hueybot3000 (3646)
1195101	2011-04-20 09:53:00	hi thanks for you replies I just hate doing gst, every 2month or 6month. It's pain in the bum. I don't get if your not claiming it why should I have to pay it. Stupid system. Thanks for you commets. Dude GST is easy as, if you use "Banklink" All you bank statments come to you electronically via your accountant( small yearly fee) you code everything as sales purchases, parts, income, whatever Takes me about 15 minutes max every 2 months) and then the software generates the GST sheet that you can send direct to IRD with your cheque or hopefully refund I used to do all this manually on a spreadsheet. The Banklink way is just so simple. HH	Happy Harry (321)
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