Invoice Law NZ
GST as well as non-GST invoice template as required by IRD
As per invoice law NZ (New Zealand) businesses must issue a tax invoice if the business is GST registered and must get a tax invoice to claim GST on goods or services costing over $50 which you buy as part of your taxable activity.
Invoice law NZ clearly highlights all the details a tax invoice must capture as the seller needs to keep records showing the particulars of the supply. As required by the NZ invoice law following guidelines must be followed while creating an invoice:
1. The tax invoice must have the words 'tax invoice' in a prominent place.
2. The name (or trade name) and GST number of the seller
3. The date of issue
4. Name and address of the buyer (if tax invoices for more than $1,000)
5. A description of the goods or services.
6. Quantity or volume of the goods or services
7. Tax invoices must be in New Zealand currency
As per the law, a tax invoice can only be issued once. If the buyer loses theirs you can give them another one but you must put the words 'copy only’ on it.
Please note, a New Zealand Business Number (NZBN) is required if you have a business with a turnover of NZD $ 60,000 or above. This number needs to be mentioned in the header section of tax invoice NZ. You can get NZBN from the Inland Revenue department. Also, it’s relatively simple to start as a small business in New Zealand, as you don’t need to go through a legal process or to register yourself or your business with a government agency except for getting a GST number if you meet the turnover criteria.
Invoice law NZ clearly highlights all the details a tax invoice must capture as the seller needs to keep records showing the particulars of the supply. As required by the NZ invoice law following guidelines must be followed while creating an invoice:
1. The tax invoice must have the words 'tax invoice' in a prominent place.
2. The name (or trade name) and GST number of the seller
3. The date of issue
4. Name and address of the buyer (if tax invoices for more than $1,000)
5. A description of the goods or services.
6. Quantity or volume of the goods or services
7. Tax invoices must be in New Zealand currency
As per the law, a tax invoice can only be issued once. If the buyer loses theirs you can give them another one but you must put the words 'copy only’ on it.
Please note, a New Zealand Business Number (NZBN) is required if you have a business with a turnover of NZD $ 60,000 or above. This number needs to be mentioned in the header section of tax invoice NZ. You can get NZBN from the Inland Revenue department. Also, it’s relatively simple to start as a small business in New Zealand, as you don’t need to go through a legal process or to register yourself or your business with a government agency except for getting a GST number if you meet the turnover criteria.