The Bill proposes:
- confirming the annual rates of income tax for the 2024–25 tax year
- a generic set of tax relief measures for future emergency events
- implementing the OECD’s Crypto-Asset Reporting Framework and Amendments to Common Reporting Standard
- addressing two issues that affect the transfer of overseas pension and superannuation funds to New Zealand
- allowing borrowers who have not registered a security for Approved Issuer Levy on time to register it retrospectively in limited circumstances
- increasing the thresholds relating to exempt employee share schemes
- allowing persons aged under 16 to enrol in KiwiSaver with the signature of one guardian
- introducing a “one-off” information sharing provision with the Ministry of Business, Innovation and Employment to encourage the use of NZBN numbers among unincorporated entities.
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