New Zealand government regulations for business deal with such issues as registering the business, taxation, protecting workers, consumer safeguards, environment and health & safety. We take brief looks at important pieces of New Zealand business regulations.
This page comes under the section New Zealand Small Business.
In New Zealand, a business can be run as a sole proprietorship, by a number of persons in partnership or as a separate entity in the form of a limited liability company. Only the last of these structures need formal registration as a business.
However, you might need to register your business under tax and other applicable laws. For example, you might have to register under GST and for selling certain products such as alcohol (which needs a licence). You can contact your nearest BIZ centre or business association for details.
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Businesses typically pay Goods & Services Tax (GST) on their turnover and Income Tax on their business income. You can get details of your obligations, and tax formalities, from the Inland Revenue website.
There are a number of laws relating to employing people. A good place to get an idea of these is this Department of Labour page on employment laws. In general, your obligations include:
Consumer laws seek to protect consumers against unfair trade practices and monopolistic exploitation. Thus the Sale of Goods Act bestows certain rights on buyers of goods, such as the right to enforce sale agreements. The Fair Trading Act imposes penalties for misleading or deceitful advertising or other trade practices, requires disclosure of consumer information and imposes an obligation to ensure product safety. Consumer Guarantees Act specifies the consumer's rights and remedies if guarantees are not met, and the concept of consequential loss.
The Consumer Laws page of business.govt.nz provides more detailed guidance on the different consumer laws.
Because business activities can damage the environment in different ways, and because our natural environment determines the quality of our life, governments enact laws that regulate the environmental impact of businesses. In New Zealand, the Resources Management Act seeks to promote "sustainable management of our natural and physical resources". You might need resource consent to start your particular business. Check the Resource Management page for fuller information.
There are several other business-related regulations in New Zealand, such as those relating to privacy of personal information, smokefree legislation and so on. You can review the Business Regulations page of business.govt.nz for an overview.
You can get a clearer picture of your legal obligations by contacting BIZ, local business or industry associations or even a business lawyer. Legal problems can distract you from your business, or even lead to its closure. The trouble to comply with the law is thus worth it.
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