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Cabinet paper LEG-20-SUB-0058: Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Bill: Approval for introduction

 

Description

Information release for the approval to introduce the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Bill.

The Bill was introduced to Parliament on 4 June 2020 and covers:

  • the tax deductibility of feasibility and innovation expenditure;
  • income tax treatment of leases subject to New Zealand International Financial Reporting Standard 16;
  • overseas donee status organisations;
  • GST and telecommunications services;
  • GST and credit notes;
  • purchase price allocation issues;
  • amendments to the tax rules for land;
  • tax issues associated with Mycoplasma bovis; and
  • the annual rates of income tax for the 2020–21 tax year (which remain unchanged).
Date published 31 August 2020  
Documents in this information release
  1. IR2020/109 – Tax policy report: Cabinet paper – Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Bill: Approval for introduction (6 March 2020)
  2. IR2020/240 – Tax policy report: Revised Cabinet paper – Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Bill: Approval for introduction (6 May 2020)
  3. LEG-20-SUB-0058 – Cabinet paper: Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Bill: Approval for introduction (26 May 2020)
  4. LEG-20-MIN-0058 – Minute: Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Bill: Approval for introduction (26 May 2020)
Additional information

Two attachments to the Cabinet paper are not included in this information release as they are publicly available:

Related information releases

Information releases for items in the Bill:

Information releases for items in Supplementary Order Paper No 510:

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