15/10/2026
How much should a NZ sole trader set aside for tax?
It’s important to remember that turnover isn’t the same as profit. After accounting for business expenses, your taxable income may be quite different from your total sales. Knowing the difference can help you plan ahead, set money aside regularly and avoid surprises when tax time comes around.
The right amount depends on your income, expenses and tax obligations, including GST if you’re registered.
Need help understanding your tax obligations as a sole trader? Explore how WE Accounting can help: https://weaccounting.co.nz/sole-traders/