Consultation on simpler tax process for individuals
The Government is seeking feedback on proposals set out in the discussion document Making tax simpler - Better administration of individuals’ income tax.
The main proposal is that fewer individuals, who receive income only from salary, wages, interest or dividends, would have to provide year-end income information to Inland Revenue.
Inland Revenue would automatically calculate and issue refunds or amounts of tax to pay using information received from employers and banks and other investment companies.
The proposals include:
- setting the threshold levels at which Inland Revenue should issue refunds or tax bills;
- direct crediting refunds to bank accounts;
- working with people throughout the year to suggest the right tax code for their circumstances;
- making it easier to claim tax credits for donations.
Feedback from the 2015 consultation document, Making tax simpler - A Government green paper on tax administration, was used to develop the proposals, which are part of the Government’s overall modernisation of the tax system.
For more information see the online forum at www.makingtaxsimpler.ird.govt.nz [Site now archived].
Consultation closed on Friday 28 July 2017.