Should provisional tax estimations be scrapped in favour of working it out as you earn? This is one of many ideas the Government is seeking your view on. At a time when you can use your cell phone to order a movie or buy a plane ticket the Government thinks that Inland Revenue can do much more to make your tax simpler. Over the next couple of years Ministers of Finance and Revenue will be looking at ways to reduce the cost of doing your tax, improve speed and make tax part of normal day to day business processes. They want your feedback on their ideas before they make changes.
What could this mean for you?
One idea is that accounting software could exchange information directly with Inland Revenue, so that:
- more accurate GST, PAYE and related information could be provided to Inland Revenue automatically – with less time needed to fill out forms
- provisional tax could be managed more like PAYE and calculated as you earn your income.
How would direct information exchange with Inland Revenue affect you?
Another idea is to help small businesses get their tax right from the start.
Join the discussion:
Right now the Government wants your views on these ideas, and how technology can be used to make things simpler. You’ll find more ideas on the consultation website or in the discussion documents.
Go to makingtaxsimpler.ird.govt.nz to see what others are saying and make your own views heard.
- Discussion on Better Digital Services – closes 15 May
- Discussion on the plan for the Tax Administration – closes 29 May
