Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

$857m to deliver a modern tax system

Hon Michael Woodhouse

Minister of Revenue

26 May 2016

$857m to deliver a modern tax system

Budget 2016 invests $503 million of new operating funding over the next four years and $354 million of new capital funding for Inland Revenue’s new tax administration system, Revenue Minister Michael Woodhouse says.

“It is important that our tax system keeps pace with changes in New Zealanders’ expectations and changing business models,” Mr Woodhouse says.

“This investment will provide a modern, simplified tax administration system that meets New Zealanders’ needs, reduces compliance costs for businesses, and helps people get their obligations and entitlements right first time.

“The tax system transformation will be designed around New Zealanders and their businesses, giving people greater ability to manage their tax affairs online.

“Businesses will find that meeting tax obligations will become part of their normal processes, rather than a separate activity. This will allow small businesses in particular more time to devote to their business rather than taxes.

“These benefits will be delivered by increased use of digital technology, through the development of Inland Revenue’s new IT system.

“Inland Revenue’s current system is 25 years old. We need to invest in a new tax system that can keep up with the changing demands of New Zealand’s modern economy.

“These measures will deliver a modern tax system that will contribute to a healthy, growing economy, maintain a robust tax base, and distribute entitlements.”

The programme is expected to generate $284 million of savings for Inland Revenue and $280 million in additional tax revenue from greater compliance. These savings will be used to provide further funding for the programme, on top of the $857 million provided in Budget 2016.

This funding is in addition to the $187 million SME-friendly tax package announced in April.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Reaction

Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced

 

Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>

ALSO:


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>

ALSO:

Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>

ALSO:

Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>

ALSO:

Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>

ALSO:

Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>

ALSO:

Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election