15 May 2014
Budget 2014 continues the Government’s focus on further strengthening the tax system and improving public services to help provide an environment that supports business.
Today’s announcements include proposals to:
- change the tax treatment of specific forms of business “black hole” expenditure and to cash out tax losses for research and development intensive start-up firms
- extend the parental tax credit
- repeal cheque duty
Budget 2014 also contains a proposed change to the Student Loan Scheme to freeze the repayment threshold at its current level of $19,084. You can find details of the proposed change at www.minedu.govt.nz/.
Also included in the Budget is extra funding for Inland Revenue to follow up on unfiled tax returns.
Full coverage of all Budget 2014 announcements can be found at http://www.treasury.govt.nz/budget/2014.