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…