Our members have a wealth of expertise and insights and this has been most apparent in recent days. Chartered Accountants Australia and New Zealand’s NZ Tax Team have heard from many members who wanted to share their suggestions and thoughts on how New Zealand could possibly leverage our tax system to support our people and our economy through COVID-19.
Earlier this week the team provided an outline of possible measures to Inland Revenue. In compiling these suggestions CA ANZ has included input from our wider New Zealand membership, our Tax Advisory Group and National Tax Liaison Group. Our team are now working through the technical tax details and implications of these suggestions to further assist Government’s exploration of possible tax responses.
This list is not exhaustive, and other ideas are likely to arise as the situation develops, and as members work further with their clients. The NZ Tax Team encourage members to continue to share their ideas with us, we will continue to share these with Inland Revenue and Government.
Some of these suggestions may not be able to be developed further by Government, possibly due to fiscal cost, or administrative practicalities, but unprecedented times call for ‘out of the box’ thinking.
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