The Government's new Tax and Social Policy Work Programme aims to rebuild the economy.
Revenue Minister Simon Watts has outlined the programme, which focuses on simplifying tax rules, reducing compliance costs, and addressing integrity risks. The six strategic workstreams include economic growth and productivity, integrity of the tax system, modernising the tax system, strengthening international connections, social policy, and other agency work.
Key areas of focus include supporting non-resident contractors with simplified tax rules, transitioning to digital tax administration for tax intermediaries, making it easier for small businesses to comply with tax laws, and considering exempting the New Zealand Superannuation Fund from income tax. The programme aims to improve fiscal sustainability, reduce costs for households, and create a more business-friendly environment.
The Government's Tax and Social Policy Work Programme is available online at https://www.taxpolicy.ird.govt.nz/work-programme.