Annual Financial Statements & Tax Returns

Annual Financial Statements  & Tax Returns


In New Zealand, all businesses are required to furnish an income tax return so the Inland Revenue Department can collect tax for the Government of New Zealand. To accurately calculate tax, a set of double entry financial statements are required to be prepared. The preparation of Financial Statements for the purpose of reporting tax require the laws of New Zealand to be contemplated as part of that preparation process. The role of the financial accountant is to act in the interest of their client in ensuring that the client adopts a tax position that is congruent with the laws of the land but also to ensure that every available deduction is considered so that the client has adopted the most efficient tax position possible.

Talking to your accountants in Hamilton and planning your business activities enables you to structure your business and commercial affairs effectively. Critically questioning and documenting your commercial rationale for an activity ensures that you are well placed to explain your tax position should that ever be necessary.

Good financial statement preparation requires judgement and skill. We prepare draft financial statements and a draft tax position giving you the opportunity to discuss the documentation before it is finalised.

If you have a concern about the rigour that has been applied to your tax position by your existing provider, then upon your instruction we will review your set of financial statements in the strictest of confidence and provide our commentary. This review will be provided free of charge.

If you would like to pursue a confidential discussion about your affairs then contact us today to arrange a meeting. To be prepared for this meeting you will need a set of your most recent financial statements and tax returns as prepared by your existing provider for our team to review.