The focus of the tax measures in the 2019 budget (delivered on 30 May 2019) is “business as usual.”
Funding for the centrepiece-spending initiatives is from growth in the economy and existing tax settings. Increasing tax revenue, without the “big bang” change of an initiative like a capital gains tax, is likely to be gradual and dealt with through the tax policy work programme. The indications are that tax changes that increase tax will receive priority—for example, the recent proposal to collect more goods and services tax from telecommunications services. By contrast, measures that reduce tax revenue collection are likely to be “pushed out.”
Read a May 2019 report prepared by the KPMG member firm in New Zealand
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