Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Provisional Tax Changes will help small business

2 November 2008

Provisional Tax Changes will help small business

The proposed changes to provisional tax confirmed in Labour’s economic package unveiled today will be especially welcomed by small and medium sized business, Michael Barnett chief executive of the Auckland Chamber of Commerce said today.

In a boom-bust economic environment in which a downturn and upswing can occur virtually without warning, it is important that a business have the flexibility over its taxation arrangements with Inland Revenue to be able to maintain a stable cash flow situation.

He was responding to Labour’s announcement that for the period 15 January next year to May 2010 that if returned as Government it will enact legislation to reduce the use of money interest rate for underpayments of provisional tax to the same level as that paid for overpayment of provisional tax.


© Scoop Media

Business Headlines | Sci-Tech Headlines


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>


Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>