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Source: Inland Revenue Department –
This information release includes the Cabinet paper plus accompanying papers covering Digital Services Tax (DST).
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The Cabinet paper was considered and confirmed by Cabinet on 14 August 2023.
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Source: Inland Revenue Department –
Cabinet paper and supporting documents covering the order in council adjusting the family tax credit and best start tax credit rates in line with inflation.
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| Additional information |
The Cabinet paper was considered and confirmed by Cabinet on 29 November 2023. One attachment to the Cabinet paper is not included in this information release as it is publicly available: |
Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: Information release on Taxation Principles Reporting Act repeal
Following the repeal in December 2023 of the Taxation Principles Reporting Act, the following documents are being made available:
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: Repeal Bill passes all stages
The Taxation Principles Reporting Act Repeal Bill introduced on 19 December has been passed by Parliament. The Bill which will repeal the Taxation Principles Reporting Act 2023 now awaits Royal assent.
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Source: Inland Revenue Department –
The Government has announced two tax proposals as part of its mini-Budget:
These two measures will be included in a taxation Bill currently being considered by the Finance and Expenditure Committee.
For more information, see the Minister of Finance’s press release.
Source: Inland Revenue Department –
A full regulatory impact assessment was not required for the Taxation Principles Reporting Act Repeal Bill. However, an updated coversheet was produced by Inland Revenue and should be read alongside the original Regulatory Impact Statement prepared for the original Act.
Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: Taxation Principles Reporting Act Repeal Bill introduced
The Government has introduced a Bill which will repeal the Taxation Principles Reporting Act 2023.
For more information, see:
Minister of Revenue’s press release
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Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: FTC and BSTC amounts increased
An Order in Council made on 29 November 2023 increases the Family Tax Credit and Best Start Tax Credit amounts in line with inflation. This will take effect from 1 April 2024.
A special report has been published providing details of the change. Coverage will be included in an upcoming edition of the Tax Information Bulletin.
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Source: Inland Revenue Department –
This special report provides details of the change made by Order in Council to increase the family tax credit and best start tax credit amounts in line with inflation.
This will take effect from 1 April 2024.
Order in Council SL2023/288
Source: New Zealand Inland Revenue Department – Press Release/Statement:
Headline: Austria second protocol signed
New Zealand and Austria have signed the Second Protocol updating the double tax agreement (DTA) and First Protocol between the two countries.
New Zealand entered negotiations with Austria for the Second Protocol to satisfy a ‘most favoured nation’ (MFN) clause in the existing DTA, which was triggered in 2010 after NZ agreed to lower dividend withholding rates with the United States and Australia. The Second Protocol extends the same dividend tax treatment to Austria.
In addition, the Second Protocol updates the existing DTA to include the most recent OECD anti-abuse provisions and several other minor changes. The Second Protocol will enter into force after both countries have completed the necessary domestic procedures, which in New Zealand’s case will require an Order in Council.
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