The Bill proposes:
- a new calculation method to determine a person’s foreign investment fund income
- changes to the GST rules applying to joint ventures
- a deferral regime for the employee share scheme tax rules for employees of unlisted companies
- a tax exemption for income from the sale of excess electricity generated at a residential property
- allowing non-resident visitors to undertake remote work without triggering New Zealand tax consequences
- enabling Inland Revenue to disclose information to another government agency under a Ministerial agreement
- allowing Inland Revenue to disclose updated information to the New Zealand Police, to support the proceeds of crime regime.
For more information see: