Tax Bill containing Budget measures introduced
The Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill has been introduced into the House. The Bill contains the following measures:
- the annual rates of income tax for the 2023–24 tax year (unchanged)
- implementing the OECD Global Anti-Base Erosion rules
- raising the trustee tax rate from 33% to 39%
- amending the tax treatment of backdated lump sum ACC and MSD payments
- making a three percent KiwiSaver Government contribution to recipients of Paid Parental Leave who make their own contribution of at least 3%.
- tax relief measures for flood-hit businesses in the North Island.
For more information see: