GST Panel eases way for new generation of business

The recently appointed GST Advisory Panel will help ensure that a business sector that has not faced GST change in a generation has a smooth transition to the 15% rate on 1 October, says Revenue Minister Peter Dunne.

In launching the GST Advisory Panel's website today, Dunne said the business leaders and executives who would implement the new rate were a generation removed from those who saw GST introduced in 1986, then increased to 12.5% in 1989.

"It makes sense to have the GST Advisory Panel to help smooth that transition for businesses," says Dunne.

"It also makes sense to have this Panel advising the Government of any issues that business faces, so the whole process can be eased."

The website and the 0800 number being launched today are tools the GST Advisory Panel will use to field queries and comments from businesses as they move their systems to the new rate.

The panel will also advise businesses on any common concerns.

Dunne says the Panel is independent of both the Government and Inland Revenue, but will work with both to communicate business needs and issues ahead of 1 October.

"It 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.

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