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The provisional tax system should be scrapped
Scrap provisional tax? Yep
Press release: ACT New
Zealand
May 7, 2015. 12:45pm
The provisional tax system should be scrapped, says ACT Leader David Seymour.
“Having to estimate volatile incomes is unfair on taxpayers, especially given the penalties that occur if you get it wrong.
“I am pleased to see the government recognised that the use of technology allows provisional tax to be managed much more like PAYE – calculated as you earn income.
“The Government is seeking views on whether provisional tax estimations should be scrapped in favour of simply paying tax as you actually earn it.
“I urge businesses and individuals to take up the invitation by the Government to submit on this issue.”
Go to makingtaxsimpler.ird.govt.nz to have your say.
• Discussion on Better Digital Services – closes 15 May
• Discussion on the plan for the Tax Administration – closes 29 May
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