Tax Bill receives assent

The Taxation (Annual Rates for 2022—23, Platform Economy, and Remedial Matters) Bill (No 2) has today received Royal assent.

The new legislation contains measures relating to:

• the platform economy
• new GST apportionment rules
• FBT exemptions for certain forms of employer-subsidised commuting options
• the tax treatment of cross-border workers
• flood relief measures, and
• excludes “build-to-rent” assets from the interest limitation rules.

Inland Revenue will publish guidance material on the new legislation shortly.