The purpose of this note is to provide an assessment of the impacts of a general reduction in the rate of GST, and a reduction in the rate of GST for necessities only.
This paper responds to the Group’s request for information about the incidence of exceptions for GST In particular, the Group requested information on whether the benefit of a GST exception (for example for food and drink) would be fully passed through
This paper responds to questions that the Group has asked about trusts. It seeks direction on what material, and conclusions, in relation to trusts that the Group would like to include in the Interim Report.
This paper follows on from the papers Dividend Avoidance and Closely-held Companies that were discussed by the Group in Session 6. Those papers highlighted the pressures on the taxation of closely-held companies due to inconsistencies in treatment
The independent advisor has suggested the Group should consider rules targeted at a subset of the self-employed. Specifically where the self-employed person has minimal capital invested in the business or has no employees.
The attached paper is intended to help inform the Tax Working Group (the Group) about the charities and not-for-profit sector and some of the tax policy pressure points. The paper provides:
This background paper is for the Group’s information. It:
• discusses the application of the tax secrecy rules in the Tax Administration Act 1994 and how they affect Inland Revenue’s ability to release information;