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

19 August 2016

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

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.

8 August 2016

The Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill introduced in Parliament today proposes a suite of business-friendly changes, including a new way for businesses to pay their provisional tax. The bill also strengthens the disclosure requirements for foreign trusts following the Shewan Inquiry, and introduces measures to implement the G20/OECD standard for the Automatic Exchange of Information, which New Zealand Financial institutions will have to comply with. For more information see the media statement, the bill and its commentary, and regulatory impact statements.

28 July 2016

Inland Revenue has provided early information for financial institutions on the upcoming automatic exchange of financial information. This information is based on feedback received from our recent consultation and will form the basis of draft legislation to be introduced in August. Please note that this information remains subject to parliamentary process and should not be considered final. For more information see the fact sheet.

14 July 2016

This special report provides early information on measures included in the Taxation (Transformation: First Phase Simplification and Other Measures) Bill, enacted on 2 June 2016, aimed at simplifying the collection of income tax on employee share scheme benefits. Complete coverage of the new Act will be published in the August edition of the Tax Information Bulletin.

Highlights

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

The recently enacted...

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...