FIRST CUT: Key announces major provisional tax reforms

Wed, 13 Apr 2016

By Pattrick Smellie April 13 (BusinessDesk) - Lumpy provisional tax payments will become a thing of the past for small and medium sized businesses under a business tax reform package announced by Prime Minister John Key in the first major speech ahead of the May 28 Budget. Provisional tax will allow businesses to choose a pay-as-you-go option rather than the current provisional and terminal tax system, which at present requires three annual payments. To be able to use the new regime, businesses will need to be using a cloud-based accou...

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