Tax bill introduced

A taxation bill tabled in Parliament this afternoon introduces tax measures announced in Budget 2008: personal tax cuts that are to be phased in over three and a half years, and changes to Working for Families tax credits that take account of inflation. The bill contains a number of remedial amendments that require early enactment. They include changes announced on 14 May that are to give tax-certainty for various entities in the lead-up to the deadline for registration with the Charities Commission and remedial amendments to the PIE and KiwiSaver rules. It also confirms the annual rates of income tax for the 2008-09 tax year.

For more information see our special report - Guide to the tax changes proposed in the Taxation (Personal Tax Cuts, Annual Rates, and Remedial Matters) Bill (PDF 182KB) - and the bill.