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

27 November 2015

Low-income working families who are eligible for the minimum family tax credit will receive an increase for the 2016–17 tax year. The MFTC currently guarantees recipients an after-tax income of $23,036 a year ($443 a week). This will increase to $23,764 a year ($457 a week) for the 2016–17 tax year, beginning on 1 April 2016.

The new rate was set by Order in Council on 23 November. For more information see the media statement.

27 November 2015

An Order in Council signed on 23 November sets the interest rate used to calculate fringe benefit tax on low-interest loans provided by employers to their employees at 5.99% for the quarter beginning 1 October 2015 and for subsequent quarters. For more information see the media statement.

19 November 2015

In his address to the New Zealand Payroll Practitioners’ Association conference, Revenue Minister Todd McClay discussed details of the Government’s newly released public consultation on policy proposals for simplifying tax administration - Making tax simpler - Better administration of PAYE and GST. For more information see the Minister’s speech.

19 November 2015

The Minister of Revenue, Todd McClay’s address to the Chartered Accountants Australia and New Zealand annual conference focused on the issue of base erosion and profit shifting (BEPS). He discussed the OECD’s recently released BEPS Action Plan and New Zealand’s response to it. For more information see the Minister’s speech.

18 November 2015

The recently enacted Taxation (Bright-line Test for Residential Land) Act 2015 introduces a new objective test for determining when gains from the sale of a property are taxable. For early information about the changes see the special report. Full coverage of the new Act will be published in the February 2016 edition of the Tax Information Bulletin.


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...