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

3 May 2016

The Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Bill was introduced today. The bill proposes to improve, strengthen and update the rules for closely held companies, non-resident withholding tax and the approved issuer levy, and the GST rules. It also proposes a large number of technical changes to ensure the tax rules work as intended and adds 14 charities to the list of donee organisations in schedule 32. For more information see the media statement, the bill and its commentary, and the regulatory impact statements.

13 April 2016

The Prime Minister announced a business tax package today, which includes proposals to simplify business tax.

For details about the package see:

- Making tax simpler – Better business tax, an officials’ issues paper which seeks feedback on implementing the package,

- an online forum, which seeks feedback on one of the proposals – the accounting income method, a new way of calculating provisional tax,

- questions and answers about the package,

- a summary of the proposals (PDF) and the consultation (PDF),

- the Prime Minister's speech,

- the media statement from the Minister of Finance and the Minister of Revenue.

5 April 2016

The Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Mattters) Act 2016 introduces new rules that will allow start-up companies engaging in intensive research and development activities to cash out their tax losses for research and development expenditure. This special report provides early information about the new rules. Full coverage of the new Act will be published in the April edition of the Tax Information Bulletin.

21 March 2016

The Taxation (Transformation: First Phase Simplification and Other Measures) Bill, which was introduced on 30 June 2015, was reported back to Parliament today. For more information see the bill as reported back and the officials’ report on submissions received.

21 March 2016

The Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Bill, which was introduced on 16 November 2015, was reported back to Parliament today. For more information see the bill as reported back and the officials’ report on submissions received.

Highlights

The recently enacted...

The Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Bill...

The Minister of Revenue Todd McClay today released for public consultation two sets of policy...

Last night the OECD released the finalised action plan for countering...

Two new acts, the Land Transfer Amendment Act 2015 and the Tax Administration Amendment Act 2015...