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

17 November 2017

In his opening address to the Chartered Accountants Australia and New Zealand tax conference yesterday, Revenue Minister Stuart Nash outlined the Government's 100 day priorities for the tax system. He also discussed some of the challenges facing the tax system in the future. For more information, see the Minister's speech.

10 November 2017

On Wednesday 8 November 2017 Parliament reinstated the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Bill. The Finance and Expenditure Committee will now continue its consideration of the Bill. The Bill, introduced on 6 April 2017, contains measures relating to collecting employment and investment income information, reforms to the taxation of employee share schemes and sets the annual tax rates for 2017–18.

The Income-Sharing Tax Credit Bill introduced in August 2010 was not reinstated.

23 August 2017

A new information sharing agreement between Inland Revenue and the Ministry of Social Development signed in July will come into effect later this month. The new agreement brings together current information sharing arrangements into one agreement, and enables sharing of information for targeted housing assistance and verifying income for student allowance entitlements. For more information see the Order in Council, the text of the agreement and the regulatory impact statement.

15 August 2017

An Inland Revenue report into targeted consultation on section 81BA of the Tax Administration Act 1994, which is one of the information sharing provisions, was tabled in Parliament today. The review is a requirement built into legislation. As part of the review, opinions were canvassed on the operation of section 81BA; its impacts and whether the section should be removed or whether any amendments to the section were required. The report discusses the findings and recommends retaining the section pending a wider review of the Tax Administration Act.

9 August 2017

Revenue Minister Judith Collins has today welcomed the release of a tax officials’ issues paper, which presents options on how PAYE errors may be corrected and adjustments made, in the context of more frequent filing of PAYE information. The issues paper follows more frequent filing of PAYE information proposed in the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Bill, which is currently before Parliament.

For more information see the media statement, and the issues paper, PAYE error correction and adjustment. Submissions close on 15 September.

Highlights

The Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial...

The Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Bill...

The Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill introduced in...

The Government has released its response to the recommendations from the...