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March 18, 2020
The New Zealand Government announced a Business Continuity Package to assist businesses struggling due to the impact of the COVID-19 outbreak. There are five proposals related to tax:- Giving Inland Revenue the discretion to remit use-of-money interest (UOMI) for customers significantly adversely affected by COVID-19.Increasing the provisional tax threshold from $2,500 to $5,000 from 2020/2021.Increasing...
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