The Inland Revenue will be contacting clients in the hospitality industry to thank them if they’ve been keeping their books in order. Keeping books in good order assists with tax obligations and provides a more accurate view of cashflow, allows greater access to finances and ensures businesses are correctly valued. We encourage you to put your records right if you have left anything off past tax returns.
The Inland Revenue may also visit clients in the hospitality industry. They want to ensure hospitality business owners know they need to show transactions through electronic trading and mobile payment apps.
For more information about how you as business owners can keep good business records visit: ird.govt.nz/burgers