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Inland Revenue

Tax Policy

PUBLISHED 11 December 2008

Urgent measures tax bill passed

The Taxation (Urgent Measures and Annual Rates) Bill, introduced under urgency on 9 December, passed its final stages in Parliament today. The new legislation, which awaits Royal assent, gives effect to changes to personal income tax rates, introduction of an independent earner tax credit, repeal of the R&D tax credit and changes to KiwiSaver.