Tax changes have already been made to help weather the storm of the COVID-19 pandemic. They will continue but will need to be within limits. Tax policy will also move quickly in these uncertain times and significant future tax changes will be needed to repay the enormous stimulus and social borrowing that has funded the nation's response to the pandemic.
Through work with the New Zealand Law Society's Taxation Committee, and the International Fiscal Association, Geoff Clews and his team are providing commentary and input on the development of tax policy and tax law in the face of the impact of COVID-19 on New Zealand's economic prospects and social cohesion. That writing can be reviewed here. Click on the topics opposite to read the relevant paper. The work also includes a periodic review of global initiatives that can inform the New Zealand policy response. The opinions expressed in this work are those of the writer only, and not of the NZLS, IFA or any other body.
Geoff is part of a panel addressing tax initiatives in response to the COVID-19 pandemic that will present at the 2020 New Zealand Law Society Tax Conference in September 2020. His paper calls for Inland Revenue's care and management powers to be amended to include an obligation to "partner in recovery" with taxpayers.