Tax and GST - what do I need to know?
As an independent contractor working through The Village Co, you are responsible for your own tax obligations in New Zealand.
Key things to know:
Income tax:
- All income earned through the platform is taxable
- You will need to declare it in your annual tax return (IR3)
- Inland Revenue's website has a guide for self-employed people: ird.govt.nz
GST:
- If your total income from all sources exceeds $60,000 per year, you are required to register for GST
- Most sitters working part-time will be below this threshold
Expenses:
- You may be able to claim certain work-related expenses as deductions (eg travel to bookings)
- Keep records of your earnings and any relevant expenses
KiwiSaver:
- As a contractor, KiwiSaver contributions are not automatically deducted
- You can make voluntary contributions directly through Inland Revenue
This is general information only and not financial or tax advice. We recommend speaking with an accountant for guidance specific to your situation.