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Greens' tax appeal to small businesses

22 Nov 2011

Simpler tax compliance rules and more R & D funding are among the policies unveiled by the Green Party today targeting small and medium businesses.

Green Party co-leader, Dr Russel Norman, says businesses with small annual turnovers are currently forced to spend a lot of time and money on tax compliance. 

"We plan to give these small businesses the option of paying their taxes on a simplified cash basis on their GST returns,” Norman says.

"For even smaller businesses, company tax can be based on turnover.”

The proposals are in line with those proposed recently by the New Zealand Institute of Chartered Accountants, and come as part of a package of SMB-related policies.

"To strengthen the domestic market for green innovation, the Green Party will rewrite government procurement and certification processes to favour New Zealand made environmentally sustainable goods and services,” Norman says.

The party will also create a $100 million start-up capital fund for SMBs and community enterprises promoting clean technology, and boost central government funding of R & D by $1 billion over the next three years.

"Our plans are fully costed and will create thousands of new green jobs as we transition to a more resilient and sustainable economy.”