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| Thread ID: 79617 | 2007-05-26 05:24:00 | overseas website that makes money | markh (12164) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 553227 | 2007-05-26 05:24:00 | If i had a website hosted out of NZ and it had adsense and text link ads on it and sold ringtones on it and was making money in these ways,do i have to pay nz tax if i live in nz? ird's site says if ur business is based overseas you do not have to pay tax or gst, only if you "manage" it from nz. well the only things i'd do would be uploading new ringtones to the site and accepting people's payments. would this be considered "managing" my site? how long after you start a business do u have to register for tax anywayz and what if your business has made $0 since you started it? | markh (12164) | ||
| 553228 | 2007-05-26 05:31:00 | If i had a website hosted out of NZ and it had adsense and text link ads on it and sold ringtones on it and was making money in these ways,do i have to pay nz tax if i live in nz? ird's site says if ur business is based overseas you do not have to pay tax or gst, only if you "manage" it from nz. well the only things i'd do would be uploading new ringtones to the site and accepting people's payments. would this be considered "managing" my site? how long after you start a business do u have to register for tax anywayz and what if your business has made $0 since you started it? If you don't pay tax in NZ, you would have to pay tax in another country, probably the same country as the payer. You would be managing the website from NZ, so yes you would have to pay NZ tax, and if it is paid to you directly it would fall under your personal tax. |
rogerp (6864) | ||
| 553229 | 2007-05-26 07:15:00 | You will need to add the income using an IR3 form to have it added to your income. I'm currently in the same boat as you :) Also does anyone know what happens if you halt payments? I've had money on hold for six months now but don't know if it counts. Been meaning to call IRD for a while :D |
trinsic (6945) | ||
| 553230 | 2007-05-26 21:44:00 | Yes, you have to pay tax on overseas income from websites. :) what if your business has made $0 since you started it?Then there wouldn't be much point in posting this thread. :D |
maccrazy (6741) | ||
| 553231 | 2007-05-27 03:27:00 | but how long after u start ur business do u have to pay tax? within a year? You will need to add the income using an IR3 form to have it added to your income. I'm currently in the same boat as you :) Also does anyone know what happens if you halt payments? I've had money on hold for six months now but don't know if it counts. Been meaning to call IRD for a while :D |
markh (12164) | ||
| 553232 | 2007-05-27 05:01:00 | but how long after u start ur business do u have to pay tax? within a year? You should check out the IRD website. I would imagine you would have to file a tax return at the end of your first financial year would be 31st March 2008 if my average tax knowledge serves me correctly, you would also have to become GST registered if you earn over $50,000 a year- but check with an accountant who specialises in Tax or the IRD first. |
winmacguy (3367) | ||
| 553233 | 2007-05-27 06:38:00 | but how long after u start ur business do u have to pay tax? within a year? http://www.ird.govt.nz/ ^^ Loaded with virtually everything you need to know but it would still be a good idea to consult an accountant. |
FoxyMX (5) | ||
| 553234 | 2007-05-27 09:17:00 | When you get to the end of the financial year, look to see if you made a profit. If you did, you need to pay tax on it, along with any other tax owed from working, investments etc. Print out and fill in the appropriate form on the IRD website, post it and make sure you pay before the date on the letter they send back confirming. As winmacguy and FoxyMX said, check out the IRD website for official information. |
maccrazy (6741) | ||
| 553235 | 2007-05-27 09:20:00 | When you get to the end of the financial year, look to see if you made a profit. If you did, you need to pay tax on it, along with any other tax owed from working, investments etc. Print out and fill in the appropriate form on the IRD website, post it and make sure you pay before the date on the letter they send back confirming. As winmacguy and FoxyMX said, check out the IRD website for official information. Thanks for that it might be worth a look. PS my accountant dad handles all my tax stuff. :) |
winmacguy (3367) | ||
| 553236 | 2007-05-28 01:12:00 | so what if my business started on 21st march 2007. do i have to file i tax return by march 2008? You should check out the IRD website. I would imagine you would have to file a tax return at the end of your first financial year would be 31st March 2008 if my average tax knowledge serves me correctly, you would also have to become GST registered if you earn over $50,000 a year- but check with an accountant who specialises in Tax or the IRD first. |
markh (12164) | ||
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