IR10 Items listed under boxes

Box 2 Sales and/or services

– Commissions

– Contracting income

– Management fees (received)

– Salary, wage and income from schedular payments

– Sales of goods or services

– Turnover

Box 3 Opening stock

– Finished goods

– Grain or produce

– Livestock

– Opening stock

– Produce on hand

– Raw materials

– Work in progress

Box 4 Purchases

– Direct costs

– Materials

– Purchases

Box 5 Closing stock

– Closing stock

– Finished goods

– Grain or produce

– Livestock

– Produce on hand

– Raw materials

– Stock on hand

– Work in progress

Box 6 Gross profit

– Gross margin

– Gross profit

– Gross surplus

Box 7 Interest received

– Finance income

– Interest portion of finance lease income

– Interest received

– Use-of-money interest (income)

Box 8 Dividends received

– Dividends received

– Inter-group dividends

– Preference share dividends

Box 9 Rental, lease and licence income

– Fishing quota rental

– Franchise fees

– Hire income

– Lease receipts

– Licence income

– Rents received

– Royalty income

– Stud fees received

Box 10 Other income

– Accounting depreciation recovered

– Bad debts recovered

– Commissions (received)

– Gain on sale of assets (unless exceptional item)

– Goods for private use

– GST (income) (GST-inclusive account only)

– Insurance receipts

– Revaluation of assets

– Salary, wage and schedular payments (where not recorded in Box 2)

– Subvention receipts

– Sundry (income)

– Wage subsidies

Box 11 Total income

– Total of Boxes 6 to 10

Box 12 Bad debts

– Bad debts written off

Box 13 Accounting depreciation and amortisation

– Accounting amortisation of intangible assets

– Accounting depreciation

Box 14 Insurance (exclude ACC levies)

– Insurance premiums paid on business assets

– Medical, life and income protection insurance

Box 15 Interest expense

– Finance expenses

– Interest paid

– Interest paid to owners

– Use-of-money interest (expense)

Box 16 Professional and consulting fees

– Accounting services

– Audit fees

– Consulting fees

– Fees for feasibility studies

– Financial advisory fees

– Investment bank fees

– Management advice (excluding owners remuneration)

– Legal fees

– Professional fees

– Taxation advisory fees

Box 17 Rates

– Council rates

– Regional council rates

– Water rates

Box 18 Rental, lease and licence payments

– Asset hire

– Building lease/rental

– Fishing quota rent

– Franchise fees

– Ground rent

– Hire

– Lease payment

– Licence fees

– Moorings (rental)

– Rents paid

– Royalties paid

– Vehicle lease and rental

Box 19 Repairs and maintenance

– Building maintenance

– Bridge repairs (expenses)

– Drain repairs

– Fence repairs

– Hedge trimming

– Land maintenance

– Lawn mowing and garden maintenance

– Maintenance

– Plant and machinery repairs and maintenance

– Repairs and maintenance

– Track and road maintenance

– Vehicle repairs

– Weed spraying

Box 20 Research and development

– Industrial research and development

– Scientific research and development

– Software development

Box 21 Associated persons' remuneration

Include the following payments made to owners of the business (including sole traders) and to associated persons being:

– Consulting and management fees

– Directors’ fees

– Lump sum remuneration

– Management fees

– Salaries and wages

Box 22 Salaries and wages paid to employees

– ACC levies

– Employer contributions to superannuation/KiwiSaver

– Fringe benefit tax

– Holiday pay

– Lump sum payments including bonuses

– Redundancy payments

– Remuneration

– Salary and wages

– Share-based remuneration

– Sick pay

Box 23 Contractor and sub-contractor payments

– Agricultural contractors and sub-contractors

– Commissions paid to contractors

– Construction contractors and sub-contractors

– Contract milkers and share-milkers

– Contractors and subcontractors

– IT contractors

– Labour-only contracts

– Locum fees (doctor, dentist, pharmacist)

– Relief courier and taxi drivers

– Rental agency fees

– Schedular payments as per schedule 4 of the Income Tax Act 2007

– Shearing contractors

– Temporary contractors (“temps”)

Box 24 Other expenses

– All other expenses not included in Boxes 4 and 12 to 23 including:

Administration costs
Cleaning
Communication costs
Consumables
Electricity
Entertainment costs
General or sundry expenses
Travel and accommodation
Training and staff development
Vehicle expenses
Indirect remuneration (e.g. ACC levies and FBT) from associated persons’ remuneration

Box 25 Total expense

– Total of Boxes 12 to 24

Box 26 Exceptional items

– Large one-off non-operational receipts

– Major impairments or write-offs

– Major restructuring costs paid or provided for

– Results from natural disasters, that is, Acts of God

– Results from the sale or disposal of the business or a significant part of it

– Reversal of major impairments or writeoffs or restructuring provisions

Box 27 Net profit/loss before tax

– Box 11 less Box 25; add Box 26 (if positive) or deduct Box 26 (if negative)

Box 28 Tax adjustments

– Capital gains and losses on sale of assets

– Difference between accounting and tax depreciation

– Fair dividend rate income

– Financial arrangement adjustments

– Impairment/write-downs

– Imputation credits attached to dividends received

– Income not included within profit and loss statement

– Non-deductible expenditure, for example, entertainment

– Provisions not incurred at balance date

– Salary, wages and schedular payments not included in the profit and loss statement

– Tax exempt intercompany dividends

– Wages not paid within 63 days of balance date

Box 29 Current year taxable profit/loss

– add Box 28 (if positive) or deduct Box 28 (if negative)

Box 30 Accounts receivable (debtors)

– Accounts receivable

– Debtors

– Receivables

– Sundry debtors

– Trade debtors

Box 31 Cash and deposits

– Bank accounts (asset)

– Building society short-term deposits

– Cash on hand

– Cheque account (asset)

– Finance company short-term deposits

– Float/petty cash

– Savings account

– Short-term deposits

– Solicitors’ trust accounts

– Stock firm accounts

Box 32 Other current assets

– Beneficiaries’ current account

– Inland Revenue, for example, GST refund owing

– Inventory/stock

– Livestock

– Owners’ current account (asset)

– Partners’ current account

– Prepaid expenses

– Shareholders’ current account

– Work in progress

Box 33 Vehicles

– Aircraft

– Barge

– Boats

– Caravans

– Cars

– Forklifts

– Helicopters

– Motor vehicles

– Motorcycles

– Planes

– Quad bikes

– Semi-trailers

– Tractors

– Trailers

– Trucks

– Utes

– Vehicles

– Yachts

Box 34 Plant and machinery

– Loose tools

– Machinery

– Plant

– Tool box

Box 35 Furniture and fittings

– Chattels

– Fittings

– Furniture

– Office equipment

Box 36 Land

– Land

– Land improvements

Box 37 Buildings

– Barns

– Building

– Building alterations

– Car parking buildings

– Factories

– Hangars

– Office buildings

– Residential houses

– Shopping malls

Box 38 Other fixed assets

– Other fixed assets not included in Boxes 33 to 37. This includes:

Fences
Forests
Horticultural plants
Orchards
Roads and tracks
Vineyards

Box 39 Intangibles

– Business goodwill

– Computer software

– Customer lists

– Easements

– Franchise assets

– Intangible assets

– Intellectual property

– Patents, trade-marks and copyright

– Resource Management Act consents

– Site goodwill

Box 40 Shares/ownership interests

– Cooperative company shares

– Entitlements to trust distributions

– Interests in a joint venture

– Interests in a limited partnership

– Interests in a partnership

– Ordinary shares

– Preference shares

– Redeemable preference shares

– Shares

– Unit trusts

Box 41 Term deposits

– Bank term deposits

– Bonds

– Long-term deposits

– Term deposits

Box 42 Other non-current assets

– Bonus bonds

– Deferred tax asset

– Loans (asset)

– Mortgage (asset)

– Other investments

Box 43 Total assets

– Total of Boxes 30 to 42

Box 44 Provisions

– Bonus pay provision

– Damages/compensation provision

– Provisions

– Redundancy provision

– Restructuring provision

Box 45 Accounts payable (creditors)

– Accounts payable

– Accruals

– Creditors

– Other payables

– Sundry creditors

– Trade creditors

Box 46 Current loans

– Amounts owing to stock firm

– Bank overdraft

– Credit card payable

– Interest free loans

– Loans from owners

– Loans from partners

– Loans from settlor

– Loans from shareholders

– Solicitors’ trust accounts

Box 47 Other current liabilities

– Beneficiaries’ current account

– Inland Revenue (liability)

– Owners’ current account

– Partners’ current account

– Shareholders’ current account

Box 48 Total current liabilities

– The total of Boxes 44 to 47

Box 49 Non-current liabilities

– Bank loans

– Deferred tax liability

– Loans (liability)

– Mortgages (liability)

– Term liabilities

Box 50 Total liabilities

– Total of Boxes 48 and 49

Box 51 Owners' equity

– Accumulated funds

– Accumulated profits

– Accumulated losses

– Amount settled

– Capital contributed

– Capital reserves

– Owners’ equity

– Paid-up capital

– Proprietorship funds or equity

– Retained profits

– Reserves-other

– Shareholders’ funds or equity

– Undistributed profits

Box 52 Tax depreciation on:

– Aqua-cultural improvements (schedule 20 of the Income Tax Act 2007)

– Computer software

– Depreciable fixed life intangible property (schedule 14 of the ITA 2007)

– Depreciable land improvements (schedule 13 of the ITA 2007)

– Farming improvements (schedule 20 of the ITA 2007)

– Fixed assets (vehicles, plant and machinery, furniture and fittings, buildings with an estimated useful life of less than 50 years)

– Forestry improvements (schedule 20 of the ITA 2007)

– Horticultural improvements (schedule 20 of the ITA 2007)

Box 53 Untaxed realised gains/receipts

– Capital gains on sale of assets such as land and shares

– Capital gains on the sale of trademarks and business goodwill

– Gifts

– One-off receipt of capital nature

Box 54 Additions to fixed assets

– Construction and installation of fixed assets

– Purchases of fixed assets

Box 55 Disposals of fixed assets

– Proceeds from scrapping fixed assets

– Sale proceeds from disposal of fixed assets

Box 56 Dividends paid

– Dividends credited to current account

– Dividends paid

– Non-cash dividends

– Resident withholding tax deducted from dividends

Box 57 Drawings

– Drawings

– Include private expenditure not treated as a dividend

– Include private use adjustments

– Private expenditure including,

Domestic and overseas travel
House maintenance and improvement costs
Income tax payments
Insurance

– Private use of assets

– Stock taken for private use

Box 58 Current account year-end balances

– Beneficiaries’ current account

– Current account

– Owners’ current account

– Partners’ current accounts

– Shareholders’ accounts

– Shareholders’ current accounts

Box 59 Tax-deductible loss on disposal of fixed assets

– Loss on disposal

– Loss on scrapping