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

2 July 2015

A new double tax agreement between New Zealand and Canada came into force on 26 June 2015. The agreement terminates New Zealand’s 1980 agreement with Canada and replaces it with a more modern agreement. The new agreement also generally lowers withholding taxes on dividends, interest and royalties between the two countries. For more information see the media statement and the text of the agreement.

30 June 2015

A tax bill introduced today proposes changes to help prepare for the simplification of the tax system. For more information see the media statement, the bill and its commentary, and the regulatory impact statements.

29 June 2015

An Order in Council made today allows Inland Revenue to remit use-of-money interest incurred by taxpayers as a consequence of last week’s flooding in the lower North Island and the West Coast. For more information see the media statement.

29 June 2015

An officials’ issues paper released today seeks feedback on the proposed final shape of the “bright-line” test announced by the Government in Budget 2015. The test will require income tax to be paid on gains from the sale of certain residential property bought and sold within two years. For more information see the media statement and the issues paper, Bright-line test for sales of residential property. Submissions close on 24 July.

25 June 2015

The Taxation (Land Information and Offshore Persons Information) Bill passed its first reading today. It was referred to the Finance and Expenditure Committee, for report back to the House by 17 August 2015. For more information see the Ministers’ media statement.

Highlights

The Government’s 2015 Budget announced today includes tax proposals aimed at supporting...

At the International Fiscal Association conference today, the Minister of Revenue announced the...

The Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters)...