Once you decide to register for GST, the next big question arises —“How often should I file GST returns?”
Inland Revenue (IRD) offers three filing frequency options:
- Monthly filing
Best suited for large companies with very high transaction volumes. - Two-monthly filing
The most common choice for small to medium-sized businesses. - Six-monthly filing
Ideal for businesses with low, stable turnover.
Are there any mandatory rules?
Yes. Depending on your annual income:
- If your annual turnover is over NZD 24 million, you are required to file GST monthly — no other option is allowed.
- If your annual turnover is over NZD 500,000, you must file at least every two months.
So what should typical small businesses choose?
- Monthly filing: Not generally recommended. While it helps monitor cash flow closely, the workload is high and rarely necessary for SMEs.
- Two-monthly filing: A popular and practical choice. It strikes a good balance — not too frequent, and still allows regular contact with your accountant to track financial performance and manage tax risks.
- Six-monthly filing: Easier and less frequent, suitable for stable, low-income businesses. But be cautious — if your business grows quickly, you could end up with a large tax bill accumulating over six months, leading to cash flow strain.
Our Recommendation
As accountants, we usually recommend two-monthly GST filing. This approach helps you:
- Stay on top of your business finances;
- Spot potential tax issues early;
- Avoid the shock of a large GST payment at the end of the year.
If you’re just starting out and your income is still low — but you’re planning to grow — choosing two-monthly from the start can build good financial habits and help avoid surprises down the line.
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