Paying your own income tax
As a contractor, you are self employed. This means that you are responsible for your income tax. To find out more about what it means to be self employed and your tax obligations, check out the following link.
Provisional tax is a way of managing your income tax by paying compulsory instalments during the year. The amount of provisional tax is based on your expected profit for the year.
Registering for GST
You must register for GST (goods and services tax) if your annual turnover will be more than $60,000 in a 12 month period or is expected to go over $60,000 for the next 12 months. To read more about GST and what you need to do to register.
ACC Levy Payments as a self employed worker
ACC provides injury cover as soon as you start self employment. Your levies each year are estimated using your income from the previous year. In your first year you will receive two invoices, one for levies for the past year and one for the next year. ACC’s levy calculators help you estimate what your levy invoices might be.
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