Section Six: Our Questions
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We have a range of questions that we would appreciate your feedback on. It is with your responses that we are more likely to provide the best report to Government for consideration of changes to taxation for micro and small businesses. Please take some time to think this through and let us know what your thoughts are.
Lisa - 16-Nov-2011 09:05 AM 
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Roger Beattie - 17-Mar-2010 04:49 PM 
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susheel dutt - 10-Feb-2010 11:59 PM 
one size fit all, will not work. tax should move to sales tax , hence once only. larger corporations with higher sales will contribute more to the tax system. small business , sme have basic issue of uneducated individuals but good at what they do, so they need help. compliance cost is not the issue, govt deparment inefficiencies and untrained staff cause and cost a lot to sme cost of filling.
Ian Whizz - 23-Oct-2009 04:41 PM
There are so many different tax types, due dates and so on, even the IRD has trouble giving an opinion on what to do so as to get it right ... in end result that all says that the most obvious concept has been lost = "keep it simple stupid".
The income tax Act is the largest Act / legislation that there is :( Even those writing it get lost in the whirl pool of ever degreeing circles ... experts find more and more loop holes, the more complicated the more holes ...
From a business / government perspective - making money is a good thing, you dont make money filling out forms for IRD / Stats NZ or any other department that tells them the obvious about what is going on e.g. we all know compliance is onerous +++
In 1986 GST was on the whole a very good concept for government to collect revenue, the benefits include: -
1 Simple
2 Few exemptions
3 Even those not declaring income for tax (including the crimmial activities) paid GST sooner or later when they spent the money and they dont pay tax, got to be a winner there.
End result make GST 20%, everyone files on a two monthly basis, if you have less than $10m turnover it is a cash basis, if you are over it is monthly.
How much simpler can that get :):)
That means no income tax, no FBT, no PAYE, no RWT and many more
Tim Turner - 20-Oct-2009 05:29 PM
Hi, My business operates in Aust & NZ and I have to day that NZ is far more onerous than Aust.
In Aust, I file one return per quarter and make 1 payment per quarter which includes PAYG and GST. Also, this is done through a PC client where I get the forms I need to complete, so I can see what I have and havent done.
In NZ I file GST every 2nd month and PAYE every month. I need to remember to do this otherwise I get penalised. So, instead of 1 return per quarter its up to six per quarter.
Maybe we caqn learn something from our neghbours.
Tim Turner - 20-Oct-2009 05:29 PM
Hi, My business operates in Aust & NZ and I have to day that NZ is far more onerous than Aust.
In Aust, I file one return per quarter and make 1 payment per quarter which includes PAYG and GST. Also, this is done through a PC client where I get the forms I need to complete, so I can see what I have and havent done.
In NZ I file GST every 2nd month and PAYE every month. I need to remember to do this otherwise I get penalised. So, instead of 1 return per quarter its up to six per quarter.
Maybe we caqn learn something from our neghbours.
Beth Burdett - 15-Oct-2009 10:23 AM
As an exporter, we fully support the concept of paying tax two-monthly on turnover for that period.
That would remove one of the current problems for exporters, whereby exchange rate movements make it impossible to forecast revenue for the year ahead.
However the vagaries of exchange rate movement add further complexity to defining business size.
For example, your defined small export business with a turnover of $1.2m when the exchange rate (NZD/USD) was .7 would still qualify as a small business when the exchange rate hits .8 (turnover of $1.05m), but would be excluded at an exchange rate of .6 (ha, ha) as the turnover would be $1.4m.
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