Economically Significant Enterprise

The working definition for 'economic significance' is that if an enterprise fulfils any one of the following conditions, then it is classified as economically significant:

• The Enterprise has greater than $30,000 Annual GST expenses or sales. (To avoid existing enterprises repeatedly changing their economic significance indicator, a buffer zone of $25,000 to $35,000 has been established);
• The Enterprise has more than 3 paid employees (Business Register (BR) rolling mean employment variable (RME));
• The Enterprise is in a GST exempt industry, other than residential property leasing and rental;
• The Enterprise is part of a Business Register (BR) group;
• The Enterprise is a new GST registration and has registered for Salaries and Wages PAYE;
• The Enterprise is a new GST registration and is part of a IRD GST group return;
• The Enterprise has a geographic unit classified to agriculture, it is alive on the BR, it is classified as economically significant. (Typically, these units will be registered for GST and/or have paid employees.)
• IR10 income is greater than $40,000 annually.