Business Financial Statements Questionnaire

Schedule 1
– Accounts Receivable (Debtors)

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Schedule 2
– Accounts Payable (Creditors)

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ONLY APPLICABLE FOR COMPANIES

Under the Companies Amendment Act 2014 there is now a requirement for all directors to provide their place of birth and date of birth AND in addition, there must be at least one director that either lives in New Zealand; or lives in Australia and is a director of a company incorporated in Australia:

Would you like a copy supplied to your bank?
Has your address changed during the year?

Records Required

Employer – Wages paid to Employees

Covid-19 Wage Subsidy and Small Business Loan

Fringe Benefit Tax (FBT) Returns

Final Bank Statement

Loan Statements

Interest and Dividend Certificates

Accounts Receivable (Debtors)

All accounts or amounts owing to you at balance date should be scheduled. Exclude bad debts. To enable bad debts to be excluded from income, these must be written off prior to balance date.

Accounts Receivable (Debtors)
GST

Accounts Payable (Creditors)

All accounts or amounts owing by you at balance date should be scheduled indicating name of creditor, amount and what the debt is for. Alternatively, mark on cheque butts or highlight in cash book those items in the month following your balance date, which should be included. Holiday pay or bonuses paid within 63 days of your balance date may be included.

Accounts Payable (Creditors)
GST

Cash on Hand

*Incl cash sales prior to balance date but not banked until after balance date

Stock on Hand

Stock should be physically counted at balance date and adequate records retained to substantiate the dollar value arrived at. Please note that if you estimate your stock to be less than $ 10,000 at the end of your income year, you may have the option of not physically counting your stock. In these circumstances we will assume that your closing stock is the same as your opening stock. Please indicate if you would like to use this option. (Please note that if your annual turnover is more than $ 1.3million, you are not able to use this option)

Valued at lower of:
GST
GST

Prepayments Made – Balance of any payments made before balance date for goods or services not received or used by balance date.

GST

Capital Expenditure

Attach details of assets purchased or sold during the year such as motor vehicles, plant and equipment and properties. Where applicable please provide the following details:

Transactions Not Through the Business

Other Non-Taxable Income

Did you receive non-taxable income from any other sources?

Business Expenses

There are a number of invoices that we specifically require. Please ensure the records you provide us with include all paid accounts for:

Private Use

GST

Expenses paid in Cash or from Personal Funds

Residential Land Withholding Tax

Have you sold residential property in New Zealand where Residential Land Withholding Tax has been deducted and paid to the IRD?

Residential Property Sales

Have you sold any residential property during the year (not otherwise detailed on the information provided)?

If it was purchased with 5 years of the sale date,

Research and Development

If this entity is a company, have you spent significant amounts on research and development during the income year?

Motor Vehicles

The proportion of motor vehicle business use as established by your vehicle log book(s) is/are:

• Please note that a detailed and accurate log book must be completed for a three month period every three years or vehicle expense claims will be limited to a maximum of 25% of expenses incurred.

Home Office Expenses

If part of your home is set aside principally for use as an office/workshop/storage area, please provide the following details.

Mixed Use Holiday Home

Does this entity have a property (such as a holiday home or a bach) that is used privately and also to derive income?
Was the property empty for 62 days in the income year?

If yes, please complete the following section so we can determine the amount of allowable deductions.

If there is more than one tenant who used the property through the year, please provide details.

Expenses incurred in respect of the property (the list below is not exhaustive – details of all expenses will be required):

Mixed Use Boat or Plane

Does this entity have a boat or plane (with a market value of ,000 or greater), that is used privately and also to derive income?
Was the asset unused for 62 days in the income year?

If yes, please complete the following section so we can determine the amount of allowable deductions.

For non-associated persons where payment received is at least 80% of market value: