Niue Tax Office - Profit Loss

GOVERNMENT OF NIUE

NIUE TAX OFFICE
ANNUAL PROFIT AND LOSS STATEMENT

Non-NCT Businesses
This profit and loss form can be used to support your business income tax filing, and is only for small to medium sized businesses that are below the $75,000 NCT threshold.

If you have employees, you must file and pay for PAYE monthly. The Tax Office will not acccept salary and wages claimed as expenses without complete PAYE documentation.

The Tax Office may require further supporting documentation for the information provided in this form.
BUSINESS LICENSE NUMBER*
TRADING NAME*
Applicant Name*
Applicant TIN*
Phone Number
Format: (683) 888-0000.
Email*
example@example.com
SELECT TAX YEAR*

2024/20252023/20242022/2023
The tax year is from April 01, to March 31 the following year.

REVENUE

Declare income received for ALL sales or services provided. These figures MUST NOT include deductions for any costs or expenses.
Sales Revenue ($)*
Revenue from sales of goods and/or services
Other Revenue ($)
Any other non-sales revenue e.g. interest, investments ect
TOTAL REVENUE ($)
Calculated from above
Your total revenue for this tax year is equal to or greater than $75,000. The Tax Office will require your business to register for and file NCT returns, unless your goods or services fall under zero rated or exempt supplies (Section 5 and 6 of the Niue Consumption Tax Act 2009).

EXPENDITURES

Business Expenditures fall into 3 categories: Cost of Goods for Sale (COGS), Purchase of Buildings and Other Assets, and Operational Expenditure.
Cost of Goods for Sale (COGS)

Inventory for sales, or material used directly for production of goods or services
This amount includes the cost of the inventory and/or materials used directly for sales or producing services. A simple test for inclusion is whether or not the expense depends directly on how much much sales you make. For simplicity, you can exclude labor from this category and include it in operational expenses below.
Inventory ($)
E.g. goods purchased for resale by a shop owner
Materials ($)
E.g. builder purchased materials for construction, fuel used for a tour operator
TOTAL COGS ($)
Calculated from above
Purchase of Buildings and Other Assets

Capital expenditures for buildings, plant, machinery and other types of Assets
Capital Expenditures for assets can be included as an expense item through depreciation, which distributes the purchase cost for the asset over its useful life. Assets with longer useful life have lower depreciation rates, and vice-versa. Buildings can be depreciated at a rate of 1% - 2.5%, depending on building type. This means buildings have assumed useful lives of between 40 - 100 years. Plant, machinery, vehicles, equiptment and similar assets with a purchase cost greater than $500 can be depreciated at up to 20% per year, which limits the assumed useful life for these other assets to 5 years.
I want to calculate depreciation for the following assets:

Wood framed buildingsBrick or Stone buildingsConcrete reinforced or Steel buildingsPlant, machinery, vehicles, equipment and other

Buildings Depreciation ($)

Other Assets Depreciation ($)
TOTAL Asset Depreciation ($)
Operational Expenditure
Enter 0 for fields not applicable.
Wages and benefits ($)*
If no employees, enter 0
Rent ($)*
Do not include buildings claimed under asset depreciation above
Utilities ($)*
Power
Internet and Phone ($)*
Office/Admin Supplies ($)*
Other ($)*
E.g. loan interest, accountant/lawyer fees, ect
TOTAL Operational Expenditure ($)
TOTAL EXPENDITURE ($)

NET INCOME

Total Revenue - (COGS + Operational Expenses + Asset Depreciation)
TOTAL REVENUE ($)
TOTAL EXPENDITURE ($)
PROFIT/LOSS
PROFIT
LOSS
You can upload any files that provide proof to support your submissions.

Cancelof
Should be Empty:

Rows	Name	Purchase Year	Purchase Value	Annual Depreciation
B1
B2
B3

Rows	Name	Purchase Year	Purchase Value	Annual Depreciation
B1
B2
B3

Rows	Name	Purchase Year	Purchase Value	Annual Depreciation
B1
B2
B3

Rows	Type	Purchase Year	Purchase Value	Annual Depreciation
A1
A2
A3
A4
A5

GOVERNMENT OF NIUE

ANNUAL PROFIT AND LOSS STATEMENT

REVENUE

EXPENDITURES

Cost of Goods for Sale (COGS)

Purchase of Buildings and Other Assets

Operational Expenditure

NET INCOME