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Inland Revenue
Inland Revenue
Inland Revenue

Tax Policy

Bill commentary
Published 8 September 2021

Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Bill

Commentary on proposed amendments included in the Taxation (Annual Rates for 2021–22, GST, and Remedial Matters) Bill, introduced to Parliament on 8 September 2021.

The Bill contains a range of proposed improvements and maintenance measures to ensure the smooth functioning of the tax system, including to:

  • align the GST invoicing rules more closely with current business practice
  • modernise the GST rules in relation to cryptoassets
  • set penalties for the sale and acquisition of sales suppression software, and
  • set the annual income tax rates for the 2021–22 tax year.