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MYOB runs tax time. So you can navigate End of Financial Year with ease.

Say goodbye to financial fears and access all the essential dates and information you need to prepare for End of Financial Year like a pro. Get MYOB Business from just $5 a month†.

Specific queries concerning taxation should be consulted with an accountant or taxation adviser

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End of Financial Year (EOFY) in New Zealand runs from 1 April to 31 March. The End of Financial Year is an important time for all businesses. You'll need to make sure your books are up to date, complete tax returns and plan for the new financial year.

We provide you with everything you need to know in order to get ahead of your financial obligations.

Stay ahead with the key EOFY dates you need to know

Unsure when you need to make payments for GST, income tax and employer deductions to the IR? We've created a handy overview for you right here.

February key dates

February 5

  • Employer deductions payment due for 16 to 31 January

  • FBT income year and payment are due

  • End of year income tax and Working for Families bills are due, unless yor tax agent has an extension

20 February

  • Employer deductions payment due for January for small to medium employers

  • Employer deductions payment due for 1 to 15 February for large employers

28 February

  • Provisional tax payments are due if you use the ratio option

  • Provisional tax instalments due if you use AIM option and file GST on monthly, two-monthly or six–monthly basis or you are not registered for GST GST return and payment due



Note: If a due date falls on a weekend or public holiday you can file or pay on the next business day without incurring penalties.

Get End of Financial Year ready with our free resource guide for businesses

Download EOFY guide

Not sure where to start with completing your end of financial year obligations? We get it, it can be overwhelming.

We’ve developed an expert guide with helpful tips and what to expect from this EOFY so you can feel confident that you’ve checked everything off the list.

Bar graph demonstrating how MYOB software has automatically calculated GST paid and GST collected.

We take care of your GST, so you take care of business

MYOB knows the rules of the tax game, so you don't have to spend time worrying about them.

Example of graph showing difference over time between incoming and outgoing expenses.

We've got PAYE sorted, so you get payrollin'

MYOB automated PAYE management, so you can say goodbye to messy manual admin at EOFY

A snapshot view of the business' financial health — net profit, income and expenses by month.

We simplify reporting, so you get solid insights

MYOB gives you automated, real-time reports and budgets, so you get essential insights into your finances

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Frequently asked questions

When is End of Financial Year?

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The Financial Year in New Zealand runs from 1 April to 31 March During end of financial year is when most businesses are required to submit a tax return to the IRD. A tax return is a summary your business income and expenses submitted. After you have submitted your return, the IRD works out if you’ve paid the right amount of tax, if you have tax to pay, or if you're due a refund.

What key tasks do I need to do at EOFY?

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Before End of Financial Year it's a good idea to get your books in order ready for your income tax return, to ensure your paperwork accurately reflects how your business has performed.

Some of the tasks you will be required to complete over EOFY:

  • Ensure all business records are up to date; making sure all invoices are entered and 

    reminders have been sent for overdue payments

  • Track all expenses and organise receipts. You can claim tax back on business expenses. The IRD requires you to keep a record of income and expenses for 7 years.

  • Finalise payroll and review salary and wage information for any legislative updates

  • Speak to your accountant or bookkeeper, or invite them to your MYOB software

  • Complete any stocktake and any stock adjustments

  • Review reports to see how your business has performed and set goals for the new financial year

How are tax return payments calculated?

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If you owe less than $5,000 income tax to IR you'll just be required to make one payment at the end of the tax year. If you owe more than $5,000 of income tax to IR from your last return, you'll need to pay provisional tax in instalments during the following year after your tax return. There are four ways to work out your provisional tax - the accounting income method (AIM), estimation, ratio and standard options. The standard option is used if you do not choose one.

AIM (the accounting income method) - pay in smaller amounts through the year (your accounting software will calculate this for you)

Standard - based on your last years tax + 5%

Estimation - you submit an estimation amount for the next tax year

Ratio - based on a % of your GST sale each two-month period during the current year

What is GST and how does it work?

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GST is a tax, usually 15%, charged by GST registered businesses on the supply (sale) of most goods and services in New Zealand. Businesses are required to register for GST if their annual turnover is more than $60,000 in the last 12 months or is expected to be more in the next 12 months. Once you are registered for GST, you need to file GST returns with IRD either (monthly, bi-monthly or bi-annually).

What type of expenses can I claim at tax time?

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Businesses get taxed on their income minus any business expenses, therefore making sure you are recording all your business expenses can help reduce your tax payables.

Business expenses can include anything purchased to help run the day-to day of your business, equipment purchases such as computers, machinery, vehicles, rent, home office expenses, uniforms, mobile phones etc. View a full list here.