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Revenue form Questions & Answers

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The IR10 is a summary of the financial statements of a business and does not replace them. Where financial statements are only prepared using tax concepts to arrive at the income/loss to be returned for tax purposes, the figures from these financial statements should be entered into the IR10.

They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders' equity. Balance sheets show what a company owns and what it owes at a fixed point in time. Income statements show how much money a company made and spent over a period of time.

IR10 forms must be completed before sending E-File returns to Inland Revenue. The IR10 should record GST-exclusive figures, unless the financial statements are prepared on a GST-inclusive basis.

Financial statements show how a business operates. It provides insight into how much and how a business generates revenues, what the cost of doing business is, how efficiently it manages its cash, and what its assets and liabilities are.

The income statement, balance sheet, and statement of cash flows are required financial statements. These three statements are informative tools that traders can use to analyze a company's financial strength and provide a quick picture of a company's financial health and underlying value.

Your financial statements must show: comparable figures for the previous income year. whether they have been prepared based on GST inclusive or exclusive. reconciliation of your company's financial statements and taxable income for the income year. taxation based schedule of fixed assets and depreciable property.

When filing a tax return disclosing business income, taxpayers have the option of providing a full set of financial statements or completing Inland Revenue's financial statement summary form, known as the IR 10.

If both you and your partner have adjustments to make, you will each need to complete an IR215 form. Go to our website ird.govt.nz/adjust-income for more information, you can complete this form online through your myIR account. If you don't have any income to provide for an income type, leave the box empty.

Bank charges are charged by the bank for proving its services. Hence, it is an expense which will appear in the income statement.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232