| | |
Homepage | login or create an account

National all talk no action on provisional tax - Labour

Read More:
Fuseworks Media
Fuseworks Media

After months of discussion documents and talkfests National has kicked for touch on provisional tax, despite it being one of the biggest issues facing small business, says Labour’s Revenue spokesperson Clayton Cosgrove.

"Labour has a detailed and clear proposal on provisional tax - a voluntary system where business can set their own tax rate and timetable called Flexible Tax for Business, which will make tax work for business rather than the other way around.

"Steven Joyce claimed the Government is taking action on provisional tax and said Labour’s policy is similar to National’s. That’s laughable now that National hasn’t come up with a policy in its latest discussion document.

"If only National did copy Labour’s policy - that would be a big benefit for New Zealand business. But yet again they’ve ignored the voices of small business that want an easier and more effective way of paying their tax.

"Instead National’s proposals could force small businesses to face high costs in upgrading payroll systems. National also proposes that small businesses pay PAYE deducted from wages immediately to IRD instead of a month later as now. This would remove an important part of small business cash flow.

"They’re hurting business, not helping them.

"National is all talk and no action. Labour has a policy that will deliver for business," says Clayton Cosgrove.

About : money

Find the latest money news and 'how to' guides on Guide2Money.

Ask our researchers your personal finance questions.

Your Questions. Independent Answers.