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  • Tax Updates – Proposed Changes

    There are also a few changes in the pipeline that could affect you which include:

    Administration of PAYE – It’s proposed that:

    Investment – It’s proposed that:

    GST – It’s proposed that:

    Brightline period for residential property – it is proposed that:

    Until legislation is passed we will not know exacly what the changes will be, but once we do we will be sure to pass it on to you.  The proposed changes around PAYE, Investments and GST fits into the reform of the IRD system and to modernise the process through business and technology changes.  IRD believe that there should be a reduction of complicance costs for taxpayers, and it should reduce their administrative costs too, as taxpayers will pick up the data disclosure costs.  More frequent and comprehensive collection of information will be available to IRD allowing them to be able to intervene more frequently and have readily available information to assist with social policy, debt collection and distribution of benefits.