New Zealand Publishes Officials' Issues Paper on Simplifying Business Taxation

On 13 April 2016, New Zealand Inland Revenue published an officials' issues paper for public comment: Making tax simpler - Better business tax. The paper includes a number of proposed measures to simplify taxation, summarized as follows.

Changes to provisional tax to increase certainty

• Increase the current safe harbor threshold from use of money interest from NZD 50,000 to NZD 60,000 of residual income tax and extend the safe harbor to non-individual taxpayers; and
• Remove use of money inte…