Tax Return Guide — How to File Your IR3 Tax Return in New Zealand
filing the IR3 tax return in New Zealand. The guide covers the IR3 filing requirements, the due dates (the 7th of July for the standard balance date), the myIR online filing, the IR3 schedules (the business income, the rental income, the investment income), and the extensions of the time to file.
IR3 Filing Requirements
The IR3 is the annual tax return for the individuals with the income not subject to the final withholding tax. The individuals must file the IR3 if they: (a) are the sole traders or the self-employed, (b) have the rental income, (c) have the overseas income, (d) have the taxable income from the trusts or the partnerships, (e) have the income from the sharing economy, (f) are required to pay the provisional tax, or (g) have the student loan and the overseas obligations. The IR3 must be filed by the 7th of July following the end of the tax year (the "standard 31 March balance date").
Filing Online via myIR
The myIR is the IRD's online portal for the tax returns and the account management. The taxpayer can file the IR3 through the myIR by: (a) logging into the myIR account, (b) selecting the "Income tax" option, (c) confirming the pre-filled income information (the "PAYE, the interest, the dividends" reported automatically), (d) adding the additional income (the "self-employed, the rental, the overseas"), (e) claiming the deductions and the credits, and (f) submitting the return. The IRD will calculate the tax refund or the tax payable. The refunds are paid within 4-6 weeks. The extensions of the time to file can be requested through the myIR (the "extension of the time" — up to the 31st of March for the tax agent clients).