Tax bill reported back to Parliament

The Finance and Expenditure Committee has reported to Parliament on the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Bill, which was introduced in November 2009. The bill includes changes to the tax rules to allow New Zealanders returning home from Australia to bring their retirement savings with them, and technical changes to the KiwiSaver rules, gift duty exemptions and binding rulings to improve the way the rules work. For more information see the bill as reported back and the officials’ report on submissions.