NZ Company First 90 Days: The Accountant's Checklist for New Directors

The first 90 days after a New Zealand company is incorporated are the most compliance-intensive period the directors will face. Inland Revenue, ACC, and bank requirements all converge simultaneously. Accountants who engage new company directors at this moment are positioned not just as advisors, but as essential infrastructure for the business.

GST Registration (Days 1-14)

The first decision most new companies face is whether to register for GST. The threshold is NZ$60,000 turnover in any 12-month period -- but many new businesses register voluntarily from day one, even before reaching this threshold, to claim back GST on setup costs (equipment, fit-out, professional fees).

An accountant who contacts a new company in the first week can walk the director through:

• Whether to register voluntarily or wait
• Choosing a GST filing period (monthly/two-monthly/six-monthly)
• Setting up the correct tax basis (invoice vs payments)
• Claiming back GST on pre-registration costs (the 6-month lookback rule)

Accounting Software Setup (Days 1-30)

New company directors routinely make poor accounting software choices in the first weeks because they lack guidance. They may choose a tool based on price alone, then discover it doesn't integrate with their payroll or bank, or doesn't produce the reports their investor or bank requires.

An accountant who gets in early can:

• Recommend the right platform (Xero for most NZ businesses; MYOB for specific industries)
• Set up the chart of accounts correctly from day one
• Configure bank feeds and reconciliation rules
• Establish a proper invoicing and receipt management workflow

PAYE and Payroll (Days 1-30 if staff are hired)

Companies hiring staff immediately need to register as an employer with Inland Revenue, understand PAYE filing obligations (payday filing is mandatory), and establish KiwiSaver deductions. Getting this wrong leads to penalties and back-payments that can destabilise a new business.

ACC Levies (Days 1-90)

New companies are automatically enrolled with ACC upon registration. The ACC working levy for the first year is based on estimated earnings. Many new directors are surprised by their first ACC invoice and don't understand how the levy is calculated or what cover they actually have.

Provisional Tax Planning (Months 2-6)

If a new company expects to earn more than NZ$5,000 in residual income tax in its first year, provisional tax becomes an obligation. First-year directors rarely anticipate this, and provisional tax notices arriving unexpectedly in months 4-6 can cause serious cash flow problems.

An accountant who plans provisional tax from the start can:

• Set a realistic income forecast for the first year
• Choose the right provisional tax method (standard, estimation, or AIM)
• Plan regular transfers to a tax savings account

Company Structure Review (Days 30-60)

Many founders incorporate their company without professional advice on the correct share structure, constitution, or holding company arrangement. A structure review in the first 30-60 days -- before significant trading begins -- is far easier and cheaper than restructuring later.

How Accountants Are Reaching New Company Directors Early

The challenge is finding new company directors at the right moment. The NZ Companies Register publishes new incorporations daily, but manually monitoring it is impractical at scale. Tools like FreshFirms automatically alert accountants to new registrations in their region, with director contact details and a drafted first-contact email, enabling a single accountant to reach 10-15 new companies per day without a marketing team.

If you're an accountant or chartered accountant looking to build a systematic pipeline of new company clients, learn how FreshFirms works for accountants or start your free trial.