Recent legislative changes detailed in latest TIB

Legislation resulting from the Taxation (Annual Rates, GST and Miscellaneous Provisions) Bill, enacted in October, is detailed in the latest Tax Information Bulletin. Much of the legislation is devoted to changes to GST arising from the continuing review of the tax. Other changes include anti-avoidance legislation, tax simplification measures, reduction of the incremental late payment penalty, and extension of relief provisions to all taxes. You can view the December TIB at http://www.ird.govt.nz/resources (PDF 386 KB).