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Inland Revenue

Tax Policy

PUBLISHED 23 March 2021

SOP to tax bill released

The Minister of Revenue has released a Supplementary Order Paper to the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Bill.

The SOP includes two of the proposed property changes announced by the Government earlier today:

  • an extension of the bright-line test for residential properties from five to ten years, and
  • a ‘change-of-use’ rule which will apply where the property was not used as the main home for more than 12 months at a time.

Also included in the SOP are proposals to loosen the loss continuity rules, address the taxation of donated trading stock, and to allow Mycoplasma bovis-affected farmers to reconsider previous income equalisation deposits.

For more information see: