The Government’s latest Tax and Social Policy Work Programme, unveiled by Revenue Minister Simon Watts, outlines a strategic approach to strengthening New Zealand’s economy and improving public service funding.

In the face of recent economic challenges, the Government aims to reduce tax complexity, minimise compliance costs, and address tax integrity issues, especially for small businesses and local enterprises.

“New Zealand has been grappling with significant economic challenges over the last few years with many businesses and households feeling the impact,” Mr Watts said.

He added that the Government remains committed to supporting businesses and residents while focusing on fiscal responsibility.

The policy framework introduces six core workstreams: economic growth and productivity, tax integrity, system modernisation, international connections, social policy, and cross-agency initiatives.

According to Mr Watts, easing tax obligations could allow businesses to flourish, with examples such as simplifying rules for non-resident contractors and advancing digital tax administration.

“We want New Zealand to be a place where our businesses can grow, prosperity can flourish, overseas businesses want to invest, and talented people want to migrate to,” he said.

Key priorities include easing compliance for small businesses, supporting family-friendly policies like FamilyBoost, and considering a tax exemption for the New Zealand Superannuation Fund to potentially enhance retirement savings.

The full Tax and Social Policy Work Programme can be accessed at the Inland Revenue’s official website.