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IRD Tax Grab - Employers Federation

MEDIA RELEASE

30 August 1999

IRD TAX GRAB

A public ruling by IRD that company carparks held on licence will be subject to Fringe Benefit Tax (FBT) is just another tax grab, New Zealand Employers' Federation Deputy Chief Executive, Anne Knowles, said today.

At present carparks, whether owned, leased or held under licence, are not subject to FBT. IRD has decided to change this so that carparks occupied by a licence arrangement will be subject to FBT.

"This ruling flies in the face of government talk about the need to reduce both tax burdens and compliance costs on the business sector. Employers will face significant confusion as to whether or not FBT will apply. Innovative arrangements will no doubt be encouraged to try get around this legal hair-splitting nonsense," said Ms Knowles.

"IRD officials' time would be better spent looking at ways of reducing compliance and tax burdens facing the business sector, rather than dreaming up nit-picking new ways of raising tax and penalising the business sector - the creators of wealth and jobs", Ms Knowles concluded.

ENDS




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