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Inland Revenue

Tax Policy

PUBLISHED 28 May 2009

Budget tax bill introduced

A taxation bill tabled in Parliament this afternoon delays personal tax cuts that were to have come into effect on 1 April 2010 and 1 April 2011 and cancels the associated increase in the Independent Earner Tax Credit, which was to have taken effect from 1 April 2010. The bill also closes the KiwiSaver mortgage diversion facility to new participants from 1 June 2009. For more information see the Taxation (Budget Tax Measures) Bill.