Small businesses are the backbone of the New Zealand economy. That’s why John Key and his Government are focused on helping small businesses get ahead and saving them even more time and money.
Yesterday in the pre-Budget speech, John Key announced some important tax changes that will be positive for businesses, particularly smaller ones. The aim is to reduce compliance costs and make tax simpler.
One of the key changes is that they are reforming provisional tax so that up to 110,000 small businesses will be able to use a new pay-as-you-go option.
It’s important for small businesses to succeed because that boosts our economy and helps to create more jobs for New Zealanders. This is just the latest initiative they have introduced to help small businesses. Others include:
Their work programme is helping to ensure the New Zealand’s economy is performing well – growth of around 3 per cent is predicted for the next few years – which is giving businesses the confidence to invest and grow.
There will be more announcements over the coming weeks as the Government build up to delivering Budget 2016 on Thursday 26 May.