The Government has revealed its tax work programme which will aim to support economic growth and make the system more efficient, but without changing overall revenue. Revenue Minister Simon Watts said Inland Revenue would publish a long list of possible tax law updates—called ‘remedials’—next month but would need them to be fiscally neutral. Watts said the work programme would focus on six outcomes: economic growth, integrity, modernisation, international connectivity, social policy delivery, and all-of-Government coordination. It will consider making the NZ Super Fund tax exempt. An earlier verison of this story said Super Fund contributions came from the operating allowance, when it actually comes from the capital allowance.

Source: New Zealand Herald November 13, 2024 20:56 UTC