Good financial management is essential to any community group’s survival. Community.net.nz has an excellent resource to help organisations put in place strong policies and procedures, as well as support around keeping records and reporting. This comprehensive resource includes support for financial planning and is recommended for organisations wanting advice on budgeting and cash flow forecasting.
In this section, you’ll find information on the requirements for filing annual returns and financial statements, as well as tax exemptions.
Useful resources and links
- For information on the reporting standards for charities, see the Charities website
- For more on financial management for community organisations, refer to CommunityNet Aotearoa’s guide: Financial management in community organisations
- For youth-related potential alternative sources of funding, refer to: Youth Services, Wellington City Council or the Ministry of Youth Development
- For more on PAYE, see the IRD website
- For more about tax and non-profits, see the IRD website
- To find out about free IRD workshops see their website
- If you feel you need more specific advice or education, make an appointment to see an IRD Business tax information officer face to face. You should not feel the need to employ an accountant as the IRD can help you with tax questions and this service is provided free to community groups. Book an appointment here
- For more about GST see the IRD website
- For information on the different categories of income received by your organisation and whether income tax or GST needs to be paid, see the IRD website