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Inland Revenue

Tax Policy

PUBLISHED 11 October 2000

Tax legislation enacted

Legislation introduced in May's Taxation (Annual Rates, GST and Miscellaneous Provisions) Bill has been enacted. Signed by the Governor General yesterday, the three resulting Acts effect a variety of changes, including:

  • Wide-ranging changes to GST arising from the Government review
  • An income attribution rule to counter avoidance of the top personal tax rate
  • Anti-avoidance measures relating to foreign tax credits
  • Further tax simplification for salary and wage earners
  • Extension of the deadline for claiming tax rebates
  • Reduction of incremental late payment penalty and extension of relief provisions to all taxes
  • Clarification of law as it pertains to tax deductions for Dairy Board rebates
  • Remedial amendments improving existing legislation
  • Confirmation of income tax rates for 2000-2001 year.