Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

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


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Federated Farmers: NAIT Levy Increases Must Achieve Accurate, User-friendly System
Nobody welcomes extra costs but if OSPRI is to catch-up on under investment in the NAIT platform and deliver on its workability and farmer support, levy increases are probably necessary, Federated Farmers says... More>>



Westpac: More Job Opportunities, But Growth In Workers’ Earnings Remains Subdued

The Westpac McDermott Miller Employment Confidence Index rose 1.2 points in the December quarter, to a level of 106.9. This was the sixth straight rise in the index since the Covid-19 lockdown in 2020. Michael Gordon, Acting Chief Economist for Westpac, noted that the rise in the index has largely been driven by perceptions... More>>




Statistics: Card Spending Continues To Increase As COVID-19 Restrictions Ease

The busy Christmas period combined with easing COVID-19 restrictions helped to increase card spending in December 2021, Stats NZ said today... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>


Insurance Council of New Zealand: September South Island Windstorm Cost $36.5 M Raises 2021 Extreme Weather Claims Total To $321.6 M

Gale force winds and storms between 9 and 13 September 2021 resulted in insurers supporting communities to the tune of $36.5 m. This is a significant rise, of $16.7 m, on preliminary figures for the event and lifts the end of year total for all extreme weather events in 2021 to $321.6 m... More>>


Statistics: Building Consents Hit New Highs In November
There were a record 48,522 new homes consented in the year ended November 2021, Stats NZ said today. This was up 26 percent compared with the year ended November 2020... More>>