The government's tax policy work programme was announced earlier this month (November 8), outlining the various changes to New Zealand's tax reforms and developments till the end of 2014 - which could be good information for small business to understand heading into the future. Revenue Minister Todd McClay said the reforms were aimed at supporting the government's economic priorities for growth and productivity, while also providing better public services overall. "A well-targeted, and high-performing tax system is an essential part of the Government’s broader economic programme of realising our goal of returning to surplus in 2014-15," said Mr McClay in a November 8 statement. "The tax reforms of 2010 were a good start and it is important that we continue to fine-tune the system to deal with new challenges as we move ahead." He mentioned three main ways in which the reforms would help. The first would be to ensure the tax system is well maintained, up to date and continually improved heading into the future - making improvements on the policy surrounding broad-base, low-rate tax framework. Secondly, continuing to strengthen New Zealand's international tax rules to ensure the nation is an attractive place for investment and international trade. This could be important for small businesses hoping to expand their services overseas in the near future. Furthermore, sharpening the focus of tax policy to support the growth of public services is something that all New Zealanders can get behind, in order to further the development of the nation as a whole. These changes to the tax system in New Zealand should be something small business across the country should be aware of, especially for those using business accounting software and taking care of their own cash flow. "Wide consultation and collaboration will be a crucial part of these projects before any changes are adopted, to ensure new services reflect the needs and expectations of New Zealanders and the business community," said Mr McClay.