Consultation opens on latest steps towards making tax simpler
The Government has released the eighth discussion document in its Making Tax Simpler series of consultations that aim to improve the tax system for businesses and individuals, and is asking for public feedback.
The proposals would see fewer people with straightforward tax affairs having to do anything about their tax. Instead Inland Revenue would use the information it receives from employers, banks and New Zealand companies to automatically issue a tax refund or a notice of a tax to pay to individual taxpayers.
During the year Inland Revenue would also be able to see if an individual was on the wrong tax code or using the wrong tax rate. The proposals would mean that Inland Revenue would contact the employer or payer of interest and ask them to switch the employee to the right tax code. Individuals who run their own businesses would still need to provide information about their income to Inland Revenue.
You can give feedback at makingtaxsimpler.ird.govt.nz until 28 July 2017.