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Inland Revenue

Tax Policy

PUBLISHED 20 December 2023

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.