BusinessNZ says Labour’s proposal for provisional tax is a constructive step.
The proposal for doubling the provisional tax threshold and allowing the option of self-determined instalment payments could help small business better manage their provisional tax obligations, BusinessNZ Chief Executive Phil O’Reilly said.
“A flexible pay as you earn option would help prevent cashflow problems currently faced by small business when their provisional tax estimates differ from actual income. A higher provisional tax threshold would also be helpful.
“Business welcomes the attention to improving tax compliance issues.”
Contact Phil O’Reilly 04 4966552 or Kathryn Asare 021 555 744