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Tax credit remedy on Kiwi Saver timely, welcomed
Media statement Thursday, March 27th, 2008
Tax credit remedy on Kiwi Saver timely, welcomed
We congratulate Ministers Cullen and Dunne for moving fast to address the employer KiwiSaver tax credit problem facing thousands of employers, said Alasdair Thompson, chief executive of the Employers & Manufacturers Association (Northern).
"We're particularly pleased Government has made its announcement to reassure these employers before April 1st," Mr Thompson said.
"The announcement means employers will get their full tax credit entitlement even though the law does not currently allow this.
"Mr Dunne has said retrospective legislation will be introduced to fix the problem.
"Without this announcement thousands of employers who pay their staff weekly or fortnightly, or who make extra salary payments to their staff, would have been disadvantaged."
ENDS
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