Mini Budget 2023

The Government has announced two tax proposals as part of its mini-Budget:

• Returning the bright-line test to a two-year period from 1 July 2024.
• Removing depreciation deductions for commercial and industrial buildings from 1 April 2024.

These two measures will be included in a taxation Bill currently being considered by the Finance and Expenditure Committee.

For more information, see the Minister of Finance’s press release.