Costs of compliance for small business
This week in tax we cover 3 news stories
- The OCR goes down but Inland Revenue rates are up
- Costs of compliance for small businesses
- Productivity Commission on Local Government Finance.
Where’s my refund?
Top news stories this week
- Where’s My Refund
- More about PIE’s
- What’s FBT
A Digital Services Tax is proposed
Top news stories this week
- New Zealand’s Government proposes a digital services tax
- 450,000 taxpayers receive a surprise – they had not applied the correct prescribed investor rate to their PIE accounts
- Inland Revenue is feeling the strain
Read the Full Transcript
Terry reviews the “wellbeing” budget
Terry was part of the Budget lockup in Wellington yesterday and he gives us his insights and observations into the 2019 “Wellbeing” budget in The Week in Tax podcast.
The differences in approach to planning
- The budget looks beyond GDP to the 4 “capitals” of wellbeing in the Living Standards Framework
- The “whole of Government” approach to solving these challenges
Deborah Russell MP explains how tax policy is implemented
Terry’s guest on the podcast today is Deborah Russell, MP with whom he co-authored Tax and Fairness book. They dig into how the government and parliament legislate tax policy.
- Deborah is on the Finance and Expenditure Select Committee – what do they discuss?
- The Loss Ringfencing Bill going through parliament also focuses on getting GST from online sales
- Most tax legislation goes through unopposed – who knew?
- The working day of a parliamentarian – a 40 hour week done in 3 days
- The Inland Revenue IT upgrade – tax agents felt less-involved than they could
- Next week’s budget – MPs get prior announcements an hour beforehand
- The living standards framework – based on Amartya Sen and Martha Nussbaum’s work
- And a prize draw….