Updated government tax policy work programme 2019-20

30

Sep

In August this year, the government released an updated tax policy work programme for 2019-2020. The updated version is aimed to encourage productive investment and maintain the quality and efficiency of the tax system. Some of the key workstreams covered in the programme include:

Land:
The current land protocols will be reviewed in an aim to improve the efficient use of land and the taxation of land is fair and supports productive investment. This includes clarifying holding costs for taxable land, facilitating compliance with existing land rules, and taking measures to improve revenue collection by improving information flows.

Business:
The government aims to focus on prioritising economic performance and minimising the impact of the tax system on businesses by reducing compliance costs. The programme deals with increasing the integrity and neutrality of the system and improving the economic achievements of small businesses and firms.

Environment/Sustainable Economy:
This workstream will look at how different tax regimes could make positive environmental impacts, noting where greater environmental taxation could change behaviour and raise money for environmental purposes. This includes a review of the Emissions Trading Scheme and revising the Waste Disposal Levy.


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