Turnover dropped, or you’re closing the business — here’s the actual cancellation process and what you owe on the way out.
Last updated: June 2026
You can apply to cancel your GST registration if your taxable turnover is genuinely expected to stay below NZ$60,000 going forward, if you’re ceasing to trade entirely, or if you were only ever registered for a specific reason that no longer applies.
Cancellation is normally requested through myIR, specifying your effective cancellation date and reason. You must file one final GST return covering the period up to cancellation, and if you still hold business assets on which GST was claimed, you may need to account for GST on their value as a deemed supply at deregistration.
Yes — cancelling isn’t permanent. If your turnover picks back up and crosses the threshold again, or you want to re-register voluntarily, you go through the normal registration process again.
No, cancellation is optional in this scenario — you can remain registered if it still benefits you, such as claiming GST back or dealing mainly with GST-registered customers.
If you claimed GST on business assets you still hold, you may need to account for GST on their value at cancellation, similar to a deemed sale.
IRD typically processes online cancellation requests within a few weeks, with confirmation provided through myIR.
If your final return shows you’ve overpaid, IRD will refund the difference in the normal way, the same as any other GST return.
Generally you’ll go through fresh registration, so it’s worth confirming with IRD at the time whether your previous number can be reactivated or a new one is issued.
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