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Budget 2016 invests $503 million of new operating funding over the next four years and $354 million of new capital funding for Inland Revenue’s new tax administration system, Revenue Minister Michael Woodhouse says.
“It is important that our tax system keeps pace with changes in New Zealanders’ expectations and changing business models,” Mr Woodhouse says.
- Michael Woodhouse
- Revenue
- Budget 2016
An SME-friendly tax package announced by the Prime Minister today will reduce compliance costs and make tax simpler for small businesses, Finance Minister Bill English and Revenue Minister Michael Woodhouse say.
“The package will make paying tax easier and more certain, reduce the burden of interest and penalties, and help small businesses tailor payments to their circumstances,” Mr English says.
“We want the tax system to fit in with how businesses operate, not the other way around.”
Key measures in the proposal are that:
- Michael Woodhouse
- Bill English
- Revenue
- Finance
- Budget 2016