Fast Facts

Future of Tax seeking public opinion

BusinessNZ has welcomed the release of the Tax Working Group background paper The Future of Tax.

BusinessNZ Chief Executive Kirk Hope, a member of the Tax Working Group, wants those in business to read the background paper and to make submissions.

“Tax reviews are infrequent and can bring significant changes for business and the economy.

“This review is particularly important as it comes at a time when technology advances are affecting both business and business revenue gathering.

“I would urge businesses to comment on the background paper and take the opportunity to be heard,” Mr Hope said.

The Tax Working Group is seeking public opinion on the overall performance of the tax system, as well as seeking views on specific questions such as:

  • How would a capital gains tax affect housing affordability?
  • Should corporate tax become progressive, rather than a flat rate across all businesses?
  • Should environmental taxes be introduced?
  • Should there be GST exemptions?
  • Should additional taxes such as stamp duty, financial transaction taxes and wealth taxes be introduced?

The Tax Working Group background paper The Future of Tax can be downloaded.

Submissions are due on 30 April 2018.

Source: BusinessNZ

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