Tax Bill receives assent
The Taxation (Annual Rates for 2022—23, Platform Economy, and Remedial Matters) Bill (No 2) has today received Royal assent.
The new legislation contains measures relating to:
- the platform economy
- new GST apportionment rules
- FBT exemptions for certain forms of employer-subsidised commuting options
- the tax treatment of cross-border workers
- flood relief measures, and
- excludes “build-to-rent” assets from the interest limitation rules.
Inland Revenue will publish guidance material on the new legislation shortly.