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

30 September 2016
SOP to extend overseas student loan interest exemption released

Supplementary Order Paper No. 229, released yesterday, proposes an amendment to the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill. The proposed amendment would extend the current student loan interest exemption for borrowers studying overseas to include recipients of New Zealand Government-funded scholarships who are studying full-time overseas or undertaking approved internships. For more information see the SOP and the regulatory impact statement (PDF 280 KB).

6 September 2016
Hybrids discussion document released

The Government has released a discussion document containing proposals for addressing hybrid mismatch arrangements. The discussion document proposes that New Zealand adopts the OECD recommendations on hybrid mismatch arrangements and calls for submissions on how that could best be done. For more information see the media statement and the discussion document. Submissions close on 17 October 2016.

1 September 2016
Update on employee share scheme proposals

Following submissions on the May 2016 officials’ issues paper, Taxation of employee share schemes, refined proposals are now available for comment. Tax treatment of employee share schemes – further consultation provides an update on the proposals, and the opportunity to make a further submission on the updated proposals. The closing date for further submissions is 30 September 2016.

19 August 2016
Government to remit late tax payment penalty for Hawke's Bay

The Government will consider providing Inland Revenue with the authority to remit the interest on late payments for residents of Hawke's Bay who have been stricken with gastroenteritis. For more information see the media statement from Revenue Minister Michael Woodhouse and Minister for Small Business Craig Foss.

16 August 2016
SOP to business tax bill released today

Supplementary Order Paper No. 190, which proposes an amendment to the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill that would allow transitional regulations and administrative exemptions to be made during Inland Revenue’s business transformation process, was released today. For more information see the SOP and the regulatory impact statement.

Highlights

Prime Minister announces proposals to simplify business tax

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

Special report: new bright-line test

The recently enacted...

Finalised BEPS action plan released

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

Assent for new property tax legislation

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