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Tax

Budget 2015 'refreshingly free of tax changes'

Apart from the much discussed announcement of extra funding for property tax compliance and a number of measures directed at providing extra tools to Inland Revenue for this work, there were refreshingly few changes to tax settings announced in today’s Budget.

Tax Freedom Day falls later as Kiwis pay more tax

This year’s Tax Freedom Day - the notional day of the year when New Zealand taxpayers stop paying tax and start earning for themselves - is May 7th, two days later than 2014 and four days later than 2013.

Tax compliance costs for SMEs continue to fall - Foss

Small Business Minister Craig Foss today welcomed a report showing tax compliance costs for small to medium-sized businesses (SMEs) continue to fall.

Govt way behind eight ball on corporate tax avoiders - Peters

"Given that the New Zealand government is softening up the public for a GST increase on imported goods and services, by lowering the $400 exemption, it is high time to stop turning a blind eye to corporate tax avoidance in New Zealand," says New Zealand First Leader Rt Hon Winston Peters.

GST gets faster and easier with new mobile app

Revenue Minister Todd McClay says Inland Revenue’s new mobile app is simplifying GST filing for small businesses and, already, 7,270 people have downloaded it.

PwC welcomes chance to make tax simpler

Revenue Minister Todd McClay and Finance Minister Bill English have today officially launched the Government’s public consultation on options for simplifying and modernising New Zealand’s tax administration.

Chamber welcomes moves to simplify tax system

Moves towards simplifying and modernising the tax system have been welcomed by the Wellington Employers Chamber of Commerce.

KPMG welcomes debt capitalisation tax proposals

KPMG welcomes proposals confirming that shareholders can convert debt to equity funding for insolvent companies. This will provide business with a simple route to rationalise group structures without unwarranted tax effects.

IRD collects $4.1 billion of tax debt in 2013/14

Revenue Minister Todd McClay says Inland Revenue’s focus on collecting tax debt has paid big dividends, with $752 million more being collected in 2013/14 than in the previous year.

Tax assistance agreement to begin next year

From next year a significant new measure for countering tax evasion will become available to Inland Revenue, says Revenue Minister Todd McClay.

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