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Inland Revenue

Tax Policy

PUBLISHED 18 May 2023

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: