Business.govt.nz has a convenient tax invoice template that small business owners can use for designing their invoices. Its simple layout ensures that all of the correct information is included for the purposes of both the issuer and the recipient.
What Information Should A Tax Invoice Include?
- Business name.
- Invoice number.
- Date the invoice is issued, and the date it is required to be paid by.
- Customer’s name and address.
- Description of the goods or services, which may include quantity purchased, individual unit price and total amount owing per item.
- Payment details, such as the bank account number the invoice should be paid into or a credit card payment slip. You should also specify the information your customer should include with online payments, for example their business name and/or invoice number.
- Each tax invoice must be original. If you need to issue a copy, it must be clearly marked as a copy.
Tax Invoices for GST-Registered Businesses
If your business is registered for GST there is additional information that must be included on your tax invoices:
- The words “Tax Invoice” prominently displayed.
- GST number.
- For products or services worth $50-$1,000, specify that the amount payable is GST-inclusive.
- For products or services worth more than $1,000, either specify that the amount payable is GST-inclusive, or alternatively state the amount charged, the GST added and total amount due. This applies if an invoice contains a number of lower-value products or services which total up to more than $1,000.
- It is important to note that if you supply goods or services to a GST-registered customer then you are required to provide them with a tax invoice within 28 days of the customer asking for one. If you do not comply you may be charged penalties.
Although tax invoices are not required for products or services worth $50 or less, we still advise keeping these for your records, and for the purposes of making a claim.
Please contact us if you have questions regarding tax invoices for your business.