Tax policy year gears up
Parliament reconvenes on 8 February, and everyone's getting ready for a busy year on the tax policy front. Tax bills are likely to be introduced into the House in March and May, and to include legislative changes to prevent high-income earners avoiding the effects of the pre-Christmas tax increases, which come into effect on 1 April. That legislation, the Taxation (Tax Rate Increase) Act, enacted on 24 December, raised the top personal income tax rate from 33% to 39% for income over $60,000, and the fringe benefit tax rate from 49% to 64%.
We'll publish news about developments as it becomes available. In the meantime, the Minister's press secretary is compiling an e-mailing list of those who want to receive ministerial press statements and speeches. If you want to be included contact [email protected].