Category: Inland Revenue Department

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Double Tax Agreement with Slovak Republic signed

Source: New Zealand Inland Revenue Department – Press Release/Statement:

Headline: Double Tax Agreement with Slovak Republic signed

New Zealand and the Slovak Republic have signed a double tax agreement (DTA).

The DTA with the Slovak Republic may help New Zealand to maximise the benefits of its Free Trade Agreement (FTA) with the European Union. It also includes all of the key anti-abuse provisions in the OECD Model.

The DTA 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.

Slovak Republic DTA

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DEV-23-SUB-0186 – Deductibility of co-operative company dividends

Source: Inland Revenue Department –

This information release covers the cabinet paper and minute seeking agreement to release a supplementary order paper in relation to the deductibility of co-operative company dividends.

Documents in this information release
  1. DEV-23-SUB-0186 – Cabinet paper: Deductibility of co-operative company dividends (23 August 2023) (8 pages)
  2. DEV-23-MIN-0186 – Minute: Deductibility of co-operative company dividends (23 August 2023) (2 pages)
Additional information

The Cabinet paper was considered by the Cabinet Economic Development Committee on 23 August 2023 and confirmed by Cabinet on 28 August 2023.

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

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Regulatory stewardship review of the donations tax credit regime

Source: Inland Revenue Department –

Inland Revenue is reviewing the rules relating to the donation tax credit. The review will assess whether the donations tax credit regime is operating effectively, efficiently, is achieving its intended outcomes and remains fit for purpose and the future.

This review is part of the regulatory stewardship programme required of all state agencies for the rules they administer. The review is expected to be completed by mid-2024.

For more information: 

About this review

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DEV-23-SUB-0146 – Disposals of trading stock at below market value: an officials’ issues paper

Source: Inland Revenue Department –

This information release covers the cabinet paper and minute associated with the officials’ issues paper on the disposals of trading stock at below market value.

Documents in this information release
  1. DEV-23-SUB-0146 – Cabinet paper: Disposals of trading stock at below market value: an officials’ issues paper (19 July 2023) (4 pages)
  2. DEV-23-MIN-0146 – Minute: Disposals of trading stock at below market value: an officials’ issues paper (19 July 2023) (1 page)
Additional information

The Cabinet paper was considered by the Cabinet Economic Development Committee on 19 July 2023 and confirmed by Cabinet on 24 July 2023.

One attachment to the Cabinet paper is not included in this information release as it is publicly available on Inland Revenue’s Policy website:

  •  Disposals of trading stock at below market value: an officials’ issues paper
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Submissions – Policy framework for debt to government

Source: Inland Revenue Department –

Submissions received from targeted external consultation on the draft debt to government framework.

Publication information

Documents in this information release
  1. Citizens Advice Bureaux New Zealand
  2. Family Finances Service Trust
  3. Financial Services Federation
  4. National Building Financial Capability Trust (FinCap)
  5. The Methodist Alliance
  6. National Collective of Independent Women’s Refuges Inc
  7. Ngapuhi Iwi Social Servies
  8. The Salvation Army
  9. SuperGrans Charitable Trust
Additional information Targeted external consultation on the debt to government framework ran from 28 February to 6 April 2023. 

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SWC-23-SUB-0092: Policy framework for Debt to Government

Source: Inland Revenue Department –

Information release of the cabinet paper covering the policy framework for debt to government.

Publication information

Documents in this information release
  1. SWC-23-SUB-0092 – Cabinet paper: Policy framework for debt to government (26 July 2023)
  2. SWC-23-MIN-0092 – Minute: Policy framework for debt to government (26 July 2023)
Additional information The cabinet paper was considered by the Cabinet Social Wellbeing Committee on 26 July 2023 and confirmed by Cabinet on 31 July 2023.              
Related publication

Policy framework for debt to government

Submissions received

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LEG-23-SUB-0129: Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations (No 2) 2023

Source: Inland Revenue Department –

This information release covers the cabinet paper and report relating to the Order in Council for the Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations (No 2) 2023.

Documents in this information release
  1. IR2023/194 – Policy report: Increase in FBT prescribed rate of interest (27 June 2023)
  2. LEG-23-SUB-0129 – Cabinet paper: Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations (No 2) 2023 (27 July 2023)
  3. LEG-23-MIN-0129 – Minute: Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations (No 2) 2023 (27 July 2023)
Additional information The Cabinet paper was considered by the Cabinet Legislation Committe on 27 July 2023 and confirmed by Cabinet on 31 July 2023

One attachment to the Cabinet paper is not included in this information release as it is publicly available: 

  • Order in Council:  Income Tax (Fringe Benefit Tax, Interest on Loans) Amendment Regulations (No 2) 2023
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Taxation Principles Reporting Bill

Source: Inland Revenue Department –

1. IR2021/407 – Report: Establishing a reporting framework in a Tax Principles Act (24 September 2021)

2. IR2022/099 – Report: Further advice: Establishing a reporting framework in a Tax Principles Act (22 March 2022)

3. IR2022/295 – Report: Cabinet paper and Discussion document – Establishing a reporting framework in a Tax Principles Act (3 June 2022)

3.1 CBC-22-SUB-0041 – Cabinet paper: Establishing a Reporting Framework in a Tax Principles Act: Release of Discussion document (15 August 2022)

3.2 CBC-22-MIN-0041 – Minute: Establishing a Reporting Framework in a Tax Principles Act: Release of Discussion document (15 August 2022)

Discussion document: A Tax Principles Act: a reporting framework informed by tax principles – A Government discussion document (August 2022)

4. IR2023/070 – Report: Draft Cabinet paper – Establishing a reporting framework in a Tax Principles Act (28 February 2023)

4.1 DEV-23-SUB-0067 – Cabinet paper: Establishing a reporting framework in a Tax Principles Act (3 May 2023)

4.2 DEV-23-MIN-0067 – Minute: Establishing a reporting framework in a Tax Principles Act (3 May 2023)

5. IR2023/136 – Report: Tax Principles Bill: additional advice (18 April 2023)

6. IR2023/144 – Report: Draft Cabinet Legislation Committee paper: Establishing a reporting framework in a Tax Principles Act (26 April 2023)

6.1 LEG-23-SUB-0054 – Cabinet paper: Taxation Principles Reporting Bill: Approval for introduction (11 May 2023)

6.2 LEG-23-MIN-0054 – Minute: Taxation Principles Reporting Bill: Approval for introduction (11 May 2023)

7. IR2023/195 – Report: Summary of submissions and recommended changes for the officials’ report for the Taxation Principles Bill (20 June 2023)

8. IR2023/119 – Report: Reassessment of Bill Bids for the 2023 Legislation Programme (12 April 2023)

Attachment to IR2023/119 (12 April 2023)

9. IR2022/476 – Report: Draft Submission to Cabinet Legislation Committee for bids on the 2023 Legislation Programme (9 November 2022)

Bill ranking list (November 2022)

Cabinet paper: Tax Principles Bil: request for Priority in the 2023 Legislation Programme (November 2022)

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Commentary to Supplementary Order Paper No 423 to the Taxation (Annual Rates for 2023–24, Multinational Taxation, and Remedial Matters) Bill

Source: Inland Revenue Department –

Supplementary Order Paper No.423 contains proposals to:

  • ensure that the main home exclusion from the bright-line test is not affected by a property owner needing to vacate their North Island flood/cyclone damaged home for more than 12 months so it can be remediated/repaired 
  • ensure that the bright-line and other land-based timing tests in the Income Tax Act 2007 are not triggered when local authorities or the Crown buy-out properties impacted by the 2023 Auckland flood events and/or Cyclone Gabrielle, and
  • allow Fonterra to deduct certain distributions to its shareholders, consistent with the treatment that applied under the previous constitution.

Supplementary Order Paper No 423

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Supplementary Order Paper No 423

Source: Inland Revenue Department –

A Supplementary Order Paper for the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill has been referred to the Finance and Expenditure Committee on 6 September 2023 for their consideration. It contains proposals to: 

  • ensure that the main home exclusion from the bright-line test is not affected by a property owner needing to vacate their North Island flood/cyclone damaged home for more than 12 months so it can be remediated/repaired
  • ensure that the bright-line and other land-based timing tests in the Income Tax Act 2007 are not triggered when local authorities or the Crown buy-out properties impacted by the 2023 Auckland flood events and/or Cyclone Gabrielle, and
  • allow Fonterra to deduct certain distributions to its shareholders, consistent with the treatment that applied under the previous constitution.

Minister’s media statement

Supplementary Order Paper No 423

Commentary to the Supplementary Order Paper