GST SUBMISSION
The impact of the GST increase
A report by KPMG, commissioned by NZCT and two other large trusts, shows that if no relief is offered to the sector, the increase in GST to 15% will result in a reduction in community funding of $15 million. As well as this, the sector will have $3m less to pay in venue expenses. KPMG have proposed a solution that maintains the status quo. In essence, the Government should reduce the duty levy from 20% to 18.1% of gross machine profit (GMP) and increase the venue payment limit to 16.4%.
Read our GST submission to find out more about the proposed solution.
