Tax changes will benefit small and medium businesses

The two upcoming tax policy changes announced today will assist small and medium businesses to grow, says Business Central.

"Businesses looking to expand will be able to take advantage of new tax rules designed to support young and innovative companies," says Chief Executive John Milford.

"Today, the Government announced it will amend legislation so businesses can deduct feasibility expenditure from their tax bills, including for projects that end up not going ahead.

"The Government will also begin consultation on changing loss continuity rules so start-ups can continue to claim losses even if they have grown and attracted new investment.

"Combined, these welcome changes to our tax rules will make it easier for small and medium companies to develop and expand.

"We look forward to the Government’s Economic Plan rolling out more changes to address businesses’ policy concerns and boost vitally needed confidence."

Contact: Brent Webling

Phone: 021 821 383