NZ GST Return

Use the NZ GST Return report to calculate the amounts to include in a GST return, which you can copy to the GST Return form or sent electronically to the IRD.

Note: The GST return is based on key points, which map to the fields that appear on the GST return form. Before you can generate a GST return, you must make sure that the tax return key points are set up in Exo Business Configurator.

Running the Report

Run the NZ GST Return report by selecting Tax Reports > NZ GST Return from the Reports menu. If this menu option isn’t available, add it to the menu using Exo Business Configurator.

The NZ GST Return window opens:

On first opening the NZ GST Return window, you will be prompted to log in to your myIR account. (You can register for myIR at the IRD website.) Once you have logged in, the Filing Obligation Date dropdown is automatically populated with the due dates of all outstanding GST returns. Selecting a date sets the Frequency and Due Date fields automatically.

Enter a reference code for the return in the Tax return code field. When the return is generated and saved, all transactions in the return are stamped.

The Gross derived from GST option determines how to calculate the gross totals. Select this option to back calculate gross totals from the GST totals. If this option is not selected, gross totals are calculated by summing the all of the transactions’ gross totals

Once you’ve entered information on the Header tab, click Calculate. Exo Business uses the tax codes assigned to each transaction in the selected period to total values and assign them to the correct points on the GST return. The Detail tab displays the main totals for the return. The Calculation Sheet tab displays the amounts used to calculate some of the totals.

Double click on a total field to display all of the transactions that are included in that total. You can also click the Source Transactions button to display all transactions that were included in the entire GST return.

Once you have entered all information needed by the GST return, you can submit it to the IRD.

Note: If you do not log in to a myIR account, you can submit the return manually. Enter all details, then click Save to save a record of the return in the Exo Business database and mark all related transactions with the Tax return code you entered. You can copy all of the totals in this window to the boxes on the GST return form. You can also print a copy of the totals or export them to Excel. When you are logged in to a myIR account, the Save button is disabled - the return will be saved automatically when it is submitted.

Provisional Tax

You can also include provisional tax information when submitting the GST Return to the IRD. You can pay provisional tax along with your GST, or, if your GST return shows a refund, you can apply some or all of this refund against the provisional tax amount.

Note: Exo Business does not support the Ratio method for calculating provisional tax. You must to manually calculate and file your GST return if you are on the Ratio method. See the IRD's website for more information on calculating provisional tax.

When the GST Return Type option on the Header tab is set to Provisional Taxpayers: GST 103B, the Provisional Tax tab is enabled.

Note: If you pay provisional tax, you must select the Provisional Taxpayers: GST 103B option every period, even for periods where you are not paying provisional tax.

Enter provisional tax details on this tab after the GST return is calculated. The fields differ depending on whether or not the GST return indicates a payment (to which the provisional tax payment is added) or a refund (which you can use to offset the provisional tax amount). The amounts on this display on the printed GST Return report, and included in the return when it's submitted to the IRD.

Coding Provisional Tax Payments

Take care when coding provisional tax payments that are offset by a GST refund. For example, if a $1000 provisional tax payment is offset by a $750 GST refund, code it like this:

Provisional Tax	$1000
GST Control	-$750
Chq/Payment Total	$250

Submitting the Return Electronically

You can send the GST Return directly to the IRD from the NZ GST Return window. To do this your company must be registered for GST, and you need to have logged in to your myIR account.

Click the IRD button (  ) to calculate the GST return and display the results on a summary window:

Note: If you have chosen to include provisional tax in the GST Return, provisional tax amounts are also shown in this window.

Select the confirmation box, then click Submit.

You can check the progress of your submission on the Inland Revenue Lodgements window, which you can open by clicking the   button.

Editing a GST Return

If you need to adjust a GST return after you’ve generated and saved it, you can re-open it by selecting Tax Reports > Edit NZ GST Return:

Double click on the GST return to re-open. All fields in the NZ GST Return window are read-only. To make adjustments, select Enable Edit from the Utilities menu. You can then make adjustments, recalculate amounts, and then save the GST return.

Tax Exceptions

Exo Business also tracks tax exceptions, which are transactions with an invalid tax rate. An invalid tax rate could mean one that doesn’t exist in the database or a one is not valid for that transaction — for example, if a purchase tax rate number was found on an invoice. To view tax exceptions, select Tax Rate Exceptions from the Utilities menu in the GST Return window. Select a date or period range and the type of transaction, then click Search to display all tax exceptions that meet these criteria.

You can use this list to find and correct any exceptions before generating the GST return.