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Minister wants later small-business tax changes

Minister wants later application date for small-business tax changes

The Revenue Minister seeks a delay in the start date for 3 small business tax changes

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Revenue Minister Peter Dunne has recommended delaying the 1 April application date of three small-business tax changes in a bill under consideration by Parliament's Finance and Expenditure Committee.

In a letter to the chairman of the committee, Mr Dunne explains that businesses need more time to prepare for the changes, given that the proposed legislation was not enacted this year as originally anticipated, and is not expected to be enacted until March.

The three measures for which he is recommending a deferred application date are the alignment of GST and provisional tax due dates, allowing businesses to base provisional tax payments on GST turnover, and introduction of the new subsidy for use of PAYE intermediaries by small businesses.

ENDS

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