How hiring a overseas contractor (f.e. a developer via a freelance website) must reflect in tax information for a company? Does it have to go through PAYE somehow? Is it eqivalent and adheres to similar procedures when f.e. buying supplies for your company (e.g. you get an invoice and you use that to show to IRD as an expense)?
Yes, you need to show the cost as an expense. I assume they will invoice you as they are a contractor? Check with your tax advisor as to their preferred method of accounting for the cost.
I am assuming you are a Licenced Builder in New Zealand. If so, there is a heap of stuff I would suggest you could do. Start with browsing the other videos on starting a business on my channel. For specifics on your industry, contact www.businessmentors.org.nz/ and have them allocate some-one experienced in building/construction to advise you.
Very helpful and simplified explanation! Thank you for this, cheers
All good. Its great you got value from it.
thanks for this info
You are most welcome.. Glad you liked it.
How hiring a overseas contractor (f.e. a developer via a freelance website) must reflect in tax information for a company? Does it have to go through PAYE somehow? Is it eqivalent and adheres to similar procedures when f.e. buying supplies for your company (e.g. you get an invoice and you use that to show to IRD as an expense)?
Yes, you need to show the cost as an expense. I assume they will invoice you as they are a contractor? Check with your tax advisor as to their preferred method of accounting for the cost.
hlw sir i want to start construction buisness in new zealand what would be procedure
I am assuming you are a Licenced Builder in New Zealand. If so, there is a heap of stuff I would suggest you could do. Start with browsing the other videos on starting a business on my channel. For specifics on your industry, contact www.businessmentors.org.nz/ and have them allocate some-one experienced in building/construction to advise you.