Taxation has an important role to play as the Government seeks to limit the economic fallout arising from Covid-19. To date, the Government’s response has mainly focused on relieving financial hardship and keeping businesses afloat. Behind the scenes the Government has also been considering a number of other key changes which are intended to enable businesses to recover and guide New Zealand out of recession.
To date, a mixture of legislative and administrative responses have been announced, and many more are in the pipeline. These changes are intended to provide practical solutions to unique issues that have arisen during the lockdown (e.g. employees working from home), assist with business recovery (e.g. the tax loss carryback and tax loss continuity reforms), and deal with unique challenges arising from Covid-19 (including relaxing timing rules and providing relief from interest and penalties).
This webinar will consider the Government’s legislative and administrative response to Covid-19, including announcements made up to (and including) the 2020 Budget on 14 May 2020. The webinar will also speculate on what long-term changes are likely to be made to the tax system to pay for the debt mountain created by Covid-19.
28 May 2020
Accountants of all levels
Stephen Tomlinson, Principal, Tomlinson Law
1.5 CPD Hours