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The Government’s support for businesses and jobs continues to roll out at pace, with payments of the new wage subsidy already in nearly 50,000 business bank accounts.
Small businesses are getting greater certainty about access to finance with an extension to the interest-free cashflow loan scheme to the end of the year.
A law change has been introduced to make it easier for forgotten funds in institutional accounts to be returned more easily to their rightful owners.
The Government is moving to ease financial stress for around 149,000 taxpayers by changing the rules around write-offs for tax debt.
New legislation introduced to Parliament today will support growth and assist businesses on the road to economic recovery, said Revenue Minister Stuart Nash.
A billion dollar milestone is about to be passed as government cash flow support rolls out to small businesses through interest-free loans.
“This Budget is about creating jobs. We know how businesses and workers have been impacted by this global pandemic. This Government is backing businesses to regain the confidence to invest as we work together to grow the economy in the face of this global recession,” Finance Minister Grant Robertson said.
Millions of dollars in cash support has begun flowing to businesses through the largest tax refund package in modern New Zealand history.
The Government will provide interest free loans for a year to small businesses impacted by the COVID-19 economic shock to support their immediate cashflow needs and meet fixed costs.
A significant package of tax reforms will be pushed through all stages in Parliament today to throw a cash flow lifeline to small businesses.
Farmers whose herds were culled in response to the outbreak of Mycoplasma bovis will be able to minimise the tax treatment of their income in some circumstances.
Urgent legislation has been passed to support the package of economic and social measures needed to recover from the impact of the coronavirus outbreak.
A proposed law change will improve the administration of the child support scheme to ensure greater fairness for children and their families.
In response to a Court of Appeal decision today, Revenue Minister Stuart Nash says he intends to introduce legislation to clarify the law regarding donation tax credits.
Foreign-based parents who avoid their child support obligations in New Zealand are being targeted in a change that will make it easier for Inland Revenue to collect money owed.
The Coalition Government is backing Kiwi companies to innovate and grow by making it easier to invest in new assets and business models, and giving start-ups a better shot at success.
Revenue Minister Stuart Nash has announced his intention to introduce a legislative amendment to ensure that payments received by a land owner from the grant of a land right (such as a licence or a limited term easement) continue to be taxable.
The Government’s updated tax policy work programme continues the focus on productivity, growth and wellbeing outlined in Budget 2019, Revenue Minister Stuart Nash announced today.
Opportunities to dodge tax are shrinking with the completion of a new tax agreement with Switzerland, Revenue Minister Stuart Nash announced today.
Almost $600 million has been paid into taxpayers’ bank accounts in the past two months, after the first season of automatic tax assessments.
Inland Revenue will gain greater powers to alert savings providers if a KiwiSaver investor is on the wrong tax rate, under new legislation introduced to Parliament.
Reforms to tax rules designed to ensure greater fairness in child support, retail trade, and residential investment have now passed into law.
Inland Revenue is to gain greater oversight of land transfer information to ensure those buying and selling properties are complying with tax rules on property speculation.
Offshore businesses that supply low-value goods to New Zealand have been granted a two-month extension to get systems in order for a new method to collect GST.