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Inland Revenue

Welcome to Tax Policy

This website contains the latest tax policy updates, including announcements, publications and details on tax-related bills. It also provides information on tax treaties, such as double tax agreements and exchange agreements. Read more
This website contains the latest tax policy updates, including announcements. Read more

Tax policy news

Information release on Taxation Principles Reporting Act repeal
01 February 2024

Following the repeal in December 2023 of the Taxation Principles Reporting Act, the following documents are being made available:

 

Repeal Bill passes all stages
21 December 2023

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.

Mini Budget 2023
20 December 2023

The Government has announced two tax proposals as part of its mini-Budget:

  • Returning the bright-line test to a two-year period from 1 July 2024.
  • Removing depreciation deductions for commercial and industrial buildings from 1 April 2024.

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.

Taxation Principles Reporting Act Repeal Bill introduced
19 December 2023

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

other supporting information.

FTC and BSTC amounts increased
01 December 2023

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.

Special report

More News

Information releases

View the latest information releases available (includes Cabinet papers, minutes, and key supporting papers for tax policy related decisions).

Tax Working Group (2017–2019)

For the terms of reference, news, reports, and other information see the Tax Working Group website. (This site is now archived.)

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