New Zealand

Details

  • Service: Tax
  • Type: Business and industry issue
  • Date: 28/01/2010

Taxmail: Q&As on the Tax Working Group recommendations 

The release of the Tax Working Group’s (TWG) report has sparked lively debate on tax reform. While we welcome this debate, it is clear that not all of the recommendations or background is well understood. In the attached taxmail, we have tried, in simple terms, to explain what you need to know about the TWG recommendations and how it may impact on you and your business.
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The issues facing the New Zealand tax system are complex. They include the sustainability of our corporate and personal tax bases, as both highly-skilled New Zealanders and companies are internationally mobile, and the integrity of the tax system - the ability to structure around high personal tax rates and the under-taxation of certain investments and activities.

 

At the same time, the solutions are not straight-forward. Alignment (of tax rates), GST, capital gains tax, land tax, RFRM, and depreciation are some of the options the TWG has considered. How these options can be made to work together, as a part of a sustainable and coherent reform package, will be the taxing issue for Government.

 

If you have any questions on the above, please speak to your usual KPMG advisor or contact:

 

John Cantin
Partner - Tax
KPMG
Phone: +64 4 816 4518

jfcantin@kpmg.co.nz

Paul Dunne
Partner - Tax
KPMG
Phone: +64 9 367 5991

pfdunne@kpmg.co.nz

 

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