‘Perks’ tax to cost $6.3M a year
PA Wellington The cost of administering the Fringe Benefits Tax would be $6.3 million, the Minister of Finance, Mr Douglas, said in answering a written Parliamentary question. He estimated that 415 permanent Inland Revenue staff would be required to police the new tax for the year ending March 31, 1986, the first year of its operation. Social Credit deputy
leader, Mr Garry Knapp, said the administrative cost was excessive and highlighted the “enormous administrative and bureaucratic problems that this tax will create.” “If this is Labour’s idea of moving further into the indirect taxation area it is an unnecessarily costly exercise and one which, despite the massive number of public servants required to police it, will prove to be anomalous,” Mr Knapp said in a statement.
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Press, 12 March 1985, Page 8
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133‘Perks’ tax to cost $6.3M a year Press, 12 March 1985, Page 8
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