Advisory Panel to be set up to assist with GST change

Friday 21st May 2010

A private sector GST Advisory Panel will be set up to help businesses and the Government implement the GST increase announced in the Budget yesterday.

Revenue Minister Peter Dunne says the panel will act as a conduit between businesses and the Government with a dedicated website and 0800 number to be set up to deal with queries and comments from businesses as they move their systems to the new rate.

It will also have an important role in working with Inland Revenue to ease businesses' transition to the new 15% rate on 1 October.

Dunne says the panel will monitor how business is dealing with the change so the Government is aware of particular issues they may face in recording and charging GST at the new rate by the due date.

"It is crucial that the Government hears about any issues promptly so they can be addressed," he says.

"The panel will also advise the Government on concerns for particular industries, activities or types of transaction related to the GST rate increase."

Members of the GST Advisory Panel are:

- Frank Owen (Chair), retired accountant, former chairman of KPMG New Zealand's National Tax Practice.
- David McLay, tax barrister.
- Craig Macalister, tax director, New Zealand Institute of Chartered Accountants (NZICA).
- Phil O'Reilly, chief executive, Business New Zealand.
- Karen Radford, director, New Zealand Retailers Association.

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