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

23 August 2017
New information sharing agreement between IRD and MSD

A new information sharing agreement between Inland Revenue and the Ministry of Social Development signed in July will come into effect later this month. The new agreement brings together current information sharing arrangements into one agreement, and enables sharing of information for targeted housing assistance and verifying income for student allowance entitlements. For more information see the Order in Council, the text of the agreement and the regulatory impact statement.

15 August 2017
Report on review of tax secrecy provision tabled

An Inland Revenue report into targeted consultation on section 81BA of the Tax Administration Act 1994, which is one of the information sharing provisions, was tabled in Parliament today. The review is a requirement built into legislation. As part of the review, opinions were canvassed on the operation of section 81BA; its impacts and whether the section should be removed or whether any amendments to the section were required. The report discusses the findings and recommends retaining the section pending a wider review of the Tax Administration Act.

9 August 2017
Feedback sought on options to trim employer PAYE costs

Revenue Minister Judith Collins has today welcomed the release of a tax officials’ issues paper, which presents options on how PAYE errors may be corrected and adjustments made, in the context of more frequent filing of PAYE information. The issues paper follows more frequent filing of PAYE information proposed in the Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial Matters) Bill, which is currently before Parliament.

For more information see the media statement, and the issues paper, PAYE error correction and adjustment. Submissions close on 15 September.

8 August 2017
NZ to strengthen tax agreements with India, San Marino

Two Orders in Council signed yesterday, to give effect to agreements with India, and San Marino, will help pave the way for greater sharing of information to prevent tax evasion. For more information see the media statement.

3 August 2017
Govt announces BEPS decisions

Finance Minister Steven Joyce and Revenue Minister Judith Collins have today announced the Government’s final decisions on proposals to tackle base erosion and profit shifting. For more information see the media statement and background documents.

Highlights

Budget 2017

The Government’s 2017 Budget has been announced today and contains proposed changes to tax...

Employment and investment income tax bill introduced

The Taxation (Annual Rates for 2017–18, Employment and Investment Income, and Remedial...

Closely held companies tax bill passes

The Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Bill...

Speech to EMA Annual Payroll conference

In her address to the EMA Payroll conference this year, the Minister of Revenue Judith Collins...

BEPS consultation documents released

In her speech to the International Fiscal Association today, Revenue Minister Judith Collins...