Category: Taxation

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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

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LEG-23-SUB-0118 – Taxation (Use of Money Interest Rates) 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 Taxation (Use of Money Interest Rates) Amendment Regulations (No 2) 2023.

Documents in this information release
  1. IR2023/190 – Policy report: Use of money interest rates review (No 2) (29 June 2023)
  2. LEG-23-SUB-0118 – Cabinet paper: Taxation (Use of Money Interest Rates) Amendment Regulations (No 2) 2023 (20 July 2023)
  3. LEG-23-MIN-0118 – Minute: Taxation (Use of Money Interest Rates) Amendment Regulations (No 2) 2023 (20 July 2023)
Additional information

The Cabinet paper was considered and confirmed by the Cabinet Legislation Committee on 20 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:

  • Order in Council:  Taxation (Use of Money Interest Rates) Amendment Regulations (No 2) 2023
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Digital Services Tax Bill introduced

Source: Inland Revenue Department –

The Government has introduced the Digital Services Tax Bill into the House today.

The Bill would allow the Government to impose, at an appropriate time, a tax on gross revenues of large multinational entities with highly digitalised business models that earn income from New Zealand. The digital services tax would not be imposed before 1 January 2025. The application date can be extended by an Order in Council, which the Government would do if it was satisfied with the progress of the Pillar One of the OECD’s multilateral solution.

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Tax Principles Reporting Bill passes

Source: Inland Revenue Department –

The Government’s Taxation Principles Reporting Bill was passed by Parliament on 23 August 2023. The new legislation aims to increase transparency and the public’s understanding of tax policy development by establishing a reporting framework informed by tax principles.

The Bill requires Inland Revenue to publish a report on the operation of the tax system in light of these principles. The first of these reports is due by the end of this year.

The Bill now awaits the Royal assent. Detailed coverage of the new legislation will be provided in an upcoming Tax Information Bulletin.

View the Bill at the Government Legislation website:

Taxation Principles Reporting Bill