Reply To: Hi all,I became a licensee of a small event styling franchise a couple of months prior to lockdown. I’ve not received any helpful answers to the following questions and would love to get some advice as I don’t have spare $ for legal/accountancy council given I haven’t generated any income through the business during lockdown.I won’t be earning 60K or more for a few years or so, should I still register for a G.S.T number? What is the benefit of this?Do I register my business as a type of company and get an IRD number and NZBN number? Again, what are the pros and cons to this.How do I claim expenses, such as mileage, new vehicle, internet, rent offset? Is this best done by an accountant? Have I missed out doing so for this financial year? If so, can I take these expenses and claim them back next year?Tips on how to keep track of them all?Thanks so much!

Ah good catch, you certainly do not need to actually set up a company to do this if you haven’t already.