If amounts have been entered into these boxes:
|IR3||Boxes 12B, 22, 23 and/or 24|
|IR3NR||Boxes 19, 20 and 21|
|IR4||Boxes 12B, 19B and 21B|
|IR6||Boxes 15B and 16B|
|IR7||Boxes 10B, 17B, 18B and 19B|
|IR8||Boxes 8C, 8D and 8E|
|IR9||Boxes 11C or 12C|
the customer could be in business.
You’ll need to consider each case individually to decide if they are.
Customers have the option of attaching either:
a fully completed Financial statements summary (IR10) form, or
a set of financial statements.
IR10 forms must be completed before sending E-File returns to Inland Revenue.
The IR10 should record GST-exclusive figures, unless the financial statements are prepared on a GST-inclusive basis.
Taxable property sales
If you’ve shown a net profit or loss from property sales in the “Other income” box of the tax return you may need to complete a Property sale information (IR833) form, even if you’ve included the profit/loss in the IR10.