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

26 May 2016

Tax-related Budget initiatives announced today by the Government focus on the transformation of tax administration. This includes proposals aimed at simplifying processes for business tax (launched in April) and new funding allocated to Inland Revenue for implementing the transformation of tax administration. For more information see the Budget 2016 announcements.

18 May 2016

The Minister of Revenue today announced that New Zealand had joined an OECD initiative which would allow all participating tax jurisdictions to exchange information on the economic activity of large multinational companies in each country.

For more information see the media statement.

17 May 2016

This special report provides early information on new rules applying to purchases by New Zealand residents, of services and other intangibles such as music, videos and software, bought from non-resident suppliers. The new rules come into force on 1 October 2016, and are part of the Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Bill introduced on 16 November 2015, which received Royal assent on 13 May. Full coverage of the new Act will be published in the July edition of the Tax Information Bulletin.

12 May 2016

An officials’ issues paper released today sets out proposals for taxing employee share schemes under New Zealand’s broad base low rate tax framework. The objective is for the tax treatment of employment income paid in shares to be consistent with the treatment of income paid in cash. For more information see the media statement and the issues paper. The closing date for submissions is 22 June.

10 May 2016

The Taxation (Residential Land Withholding Tax, GST on Online Services, and Student Loans) Bill passed its third reading today. The bill now awaits Royal assent. For more information see the media statement.

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...