Budget Bill passes

The Taxation (Budget Measures) Bill was passed today in the House. The Bill contains measures announced in the Government’s 2024 Budget, including changes to personal income tax thresholds, adjustments to tax credits, Family Boost and an increase to the student loan interest rate for overseas based borrowers.

The new legislation now awaits Royal assent. Inland Revenue will provide detailed coverage of the new measures in an upcoming Tax Information Bulletin.