The Minister of Revenue introduced the Taxation (Annual Rates for 2023-24, Multinational Tax, and Remedial Matters) Bill in May 2023. The Bill includes several proposed changes expected to take effect on or before 1 April 2024.
In addition, there are some rate changes, and residual items that also come into effect in April 2024.
The changes include:
- phasing back in the ability to claim interest deductions for residential property
- new marketplace rules for GST on listed services
- flood response measures for the North Island flooding events
- changes to the layout of trust returns
- tax calculation changes for qualifying back-dated lump sum payments from ACC and MSD.
We provide more information on these and the wider changes in our new webinar series.
We have 6 webinars available:
- Backdated lump sum changes
- GST changes
- Income tax changes
- Property
- Trust and estate changes
- Best of the rest
The webinars are available below.