The 2014/2015 financial year came to an end in New Zealand on 31 March 2015. All entities including companies and limited partnerships operating with the standard accounting period ending of 31 March must be aware of their financial and tax reporting obligations.
Standard Balance Date
The tax year in New Zealand runs from 1 April to 31 March each year, with 31 March being referred to as the “standard balance date”. Entities wishing to operate a financial year with a different balance date, referred to as a “non-standard balance date”, must first seek approval from the Commissioner of Inland Revenue.