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

15 July 2014
IRD announces relief for Northland farmers

Revenue Minister Todd McClay welcomed the IRD’s move to provide tax relief to flood-hit farmers in Northland by relaxing the income equalisation scheme rules. For more information, see the Minister’s media statement.

3 July 2014
Tax pooling rules to be amended

The Minister of Revenue announced today that the Government intends to introduce legislation to change the current tax pooling rules. The proposed changes will allow taxpayers to use pooling funds to pay interest on their tax obligations arising out of an amended tax assessment or the resolution of a dispute. For more information see the Minister’s media statement.

1 July 2014
Omnibus tax bill enacted

Legislation introduced on 22 November 2013 in the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Bill received Royal assent on 30 June 2014. A special report on the new rules that deal with the taxation of employer-provided accommodation, accommodation payments, and other allowances and payments made by employers to cover employee expenditure is provided here in advance of full coverage of the new legislation in the August edition of the Tax Information Bulletin.  The new Act can be viewed at New Zealand Legislation.

26 June 2014
Deemed rate of return set for 2013-14

The deemed rate of return for taxing foreign investment fund interests has been set at 7.99% for the 2013-14 income year. For more information see the media statement.

19 June 2014
Omnibus tax bill passes

The Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Bill introduced in November 2013 was passed by Parliament this afternoon and now awaits Royal assent. For more information see the Minister of Revenue’s media statement. A special report on changes to the tax treatment of employer-provided accommodation and allowances will be published here soon to give early information to interested parties. Full coverage of the new Act will be published in the August edition of the Tax Information Bulletin.

Highlights

Omnibus tax bill enacted

Legislation introduced on 22 November 2013 in the Taxation (Annual Rates, Employee Allowances,...

Budget 2014

The Government’s 2014 Budget has been announced today and includes tax proposals aimed at...

Govt releases new tax policy work programme

Revenue Minister Todd McClay today released the Government’s tax policy work programme for...

Trans-Tasman super portability set to go live

The Australian Government has completed legislative steps that will allow New Zealanders to...