Tax Reforms Throw Cash Lifeline to SMEs

  • Apr 30, 2020 NZST
  • Team Kalkine
Tax Reforms Throw Cash Lifeline to SMEs

In government's bid to provide a cash flow lifeline to small businesses, tax changes are expected to be pushed through all stages in Parliament today on 30 April 2020.

As per Revenue Minister Stuart Nash, Covid-19 response bill gives enterprises over NZD 3 billion in tax refunds to deal with the economic impact of the pandemic.

Main highlights are:

  • Introducing tax loss carry-back regime.
  • Allow IR to change due dates.
  • Ensure pensions paid and treatment of benefits to kiwis stranded overseas.
  • Prevent farmers and those working with animals.

 


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