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Inland Revenue

Tax Policy

PUBLISHED 25 May 2012

Budget bills pass all stages

Supplementary Order Paper No 31 to divide the bill containing Budget 2012 measures into the Taxation (Budget Measures) Bill and the Student Loan Scheme (Budget Measures) Amendment Bill was released today prior to the Third Reading.

The Taxation (Budget Measures) Bill makes changes to three tax credits and legislates a change to the livestock valuation election rules. The Student Loan Scheme (Budget Measures) Amendment Bill abolishes the student loans voluntary repayment bonus. Both bills passed the third and final stage in the House today. The new legislation is expected to be enacted early next week.