Inland Revenue - Tax policy Tax Policy

News and information about the Government's tax policy work programme, including:
- proposed changes to the laws that Inland Revenue is responsible for
- updates on the progress of bills through Parliament
- policy announcements

Tax policy news

20 February 2018

The Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Bill, introduced on 6 April 2017, was reported back to Parliament today. For more information see the bill as reported back and the officials’ report on submissions received on the bill.

15 February 2018

A Supplementary Order Paper released today proposes an amendment for inclusion in the Taxation (Annual Rates for 2017-18, Employment and Investment Income, and Remedial Matters) Bill. The SOP extends the current “bright-line” test from two years to five years. For more information see the Minister of Revenue’s media statement, Supplementary Order Paper No. 13 and the regulatory impact assessment.

15 February 2018

Inland Revenue has become aware of an error in the Taxation (Neutralising Base Erosion and Profit Shifting) Bill currently being considered by the Finance and Expenditure Committee. Wording in the Bill means that the interest deduction limitation rule applying to cross-border related party loans is not applied as widely as it should. A note issued by Inland Revenue explains the issue and the solution officials intend to recommend to the Finance and Expenditure Committee. Submissions can be made to the select committee by 2 March.

18 January 2018

Revenue Minister Stuart Nash today welcomed the decision by Inland Revenue to provide support for drought affected farmers in the lower North Island and the West Coast of the South Island through the income equalisation scheme. For more information see the Minister’s media statement.

20 December 2017

Today, the Minister of Finance and Minister of Revenue announced the members to join Sir Michael Cullen on the Tax Working Group. For more information see the Ministers’ media statement.

Tax Working Group

For the terms of reference, news and other information see the Tax Working Group's website.

Highlights

A tax bill which will counter base erosion and profit shifting by multinational companies has...

The Ministers of Finance and Revenue today released the Terms of Reference and named Sir Michael...