New taxation Bill introduced

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:

• Bill as introduced
• Bill commentary
• Regulatory Impact Statements
• Disclosure Statement