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Goods and Services Tax Act 1985

Returns and payment of tax - Records of supplies

19E: Definitions of types of record

You could also call this:

"What information you need to keep about goods and services you buy or sell"

Illustration for Goods and Services Tax Act 1985

When you are dealing with taxable supplies, you need to know what information to keep. You have to keep details about the supply, like the supplier's name and registration number. This is called taxable supply information.

If the supply costs more than $1,000, you must keep more detailed information, including the recipient's details and the date of the invoice. You also need to keep a description of the goods or services and information about the tax charged. For supplies that cost between $200 and $1,000, you need to keep similar information, but with less detail.

If the supply costs less than $200, or if it is a special type of supply, like an imported supply, you need to keep different information. You can find out what information you need to keep by looking at sections like section 19G, section 19H, section 19L, or section 19M. You also need to keep supply correction information if you made a mistake in your taxable supply information.

This includes the supplier's name and registration number, information about the mistake, and the date you corrected it. You need to keep this information to correct any mistakes you made.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS849281.

Topics:
Money and consumer rights > Taxes
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Part 3Returns and payment of tax
Records of supplies

19EDefinitions of types of record

  1. Supply correction information, for a taxable supply for which taxable supply information containing an inaccuracy has been issued, means—

  2. the name and the registration number of the supplier; and
    1. information identifying the taxable supply information; and
      1. the date of the supply correction information; and
        1. the correction to the taxable supply information, including, if relevant, a correction to the amount of tax charged for the supply.

          1. Taxable supply information, for a taxable supply of goods or services, means,—

          2. for a supply that is not referred to in paragraphs (d) to (g) and the consideration in money or money’s worth for the supply exceeds $1,000,—
            1. the name and registration number of the supplier; and
              1. recipient details for the recipient; and
                  1. the date of the invoice, or where no invoice is issued, the time of supply; and
                    1. a description of the goods or services; and
                      1. if the amount of tax charged is the tax fraction of the consideration for the supply, the amount of the consideration for the supply and a statement that the amount includes a charge in respect of tax; and
                        1. if subparagraph (vi) does not apply, the total amount of tax charged for the supply, the consideration for the supply excluding the tax, and the consideration for the supply including the tax:
                        2. for a supply that is not referred to in paragraphs (d) to (g) and the consideration in money or money’s worth for the supply exceeds $200 and does not exceed $1,000,—
                          1. the name and registration number of the supplier; and
                            1. the date of the invoice or, where no invoice is issued, the time of supply; and
                              1. a description of the goods or services; and
                                1. if the amount of tax charged is the tax fraction of the consideration for the supply, the amount of the consideration for the supply and a statement that the amount includes a charge in respect of tax; and
                                  1. if subparagraph (iv) does not apply, the total amount of tax charged for the supply, the consideration for the supply excluding the tax, and the consideration for the supply including the tax:
                                  2. for a supply that is not referred to in paragraphs (d) to (g) and the consideration in money or money’s worth for the supply does not exceed $200, the supply information for the supply:
                                    1. for a supply referred to in section 19G, which relates to imported supplies, the information given by section 19G(2):
                                      1. for a supply referred to in section 19H, which relates to secondhand goods, the information given by section 19H(2):
                                        1. for a supply referred to in section 19L, which relates to supplies by a member of a GST group or supplier group, the information given by section 19L(1) for a supply made by a member of a GST group, or the information given by section 19L(2) for a supply made by a member of a supplier group:
                                          1. for a supply referred to in section 19M, which relates to supplies of distantly taxable goods, the information given by section 19M(2).

                                            Notes
                                            • Section 19E: inserted, on , by section 19(1) (and see section 19(2) for application) of the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Act 2022 (2022 No 10).