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Inland Revenue

Tax Policy

Removal of 20% uplift from land improvement provisions


(BDO Wellington Ltd)

Clauses 50 and 125 have already been enacted and should be removed from the bill.


Clauses 50 and 125 aim to remove the remaining 20% uplift rules. These two clauses have already been enacted through the Taxation (Livestock Valuation, Assets Expenditure, and Remedial Matters) Act 2013 (sections 103 and 104 of that Act).

These two clauses should be removed from the current bill.


That the submission be accepted.