Introduced on June 4, 2020. The Bill sets the annual rates of income tax for the 2020–21 tax year. Other proposals include amendments to the income tax treatment of feasibility expenditure and land. It also aims to modernise tax administration, the goods and services tax regime, KiwiSaver and social policy rules administered by Inland Revenue. First reading June 24 opposed by National and ACT. Report back due by March 4,  2021. Reported back on March 4 with a large number of changes. Amongst them are amendments to the the clawback provisions on abandoned provisions due to concerns the proposals may incentivise taxpayers to prematurely abandon projects before reinstating them. The committee also warned amending the tax rules governing purchase price allocation may be problematic and cause compliance difficulties. It recommended the new regime should be kept under review. National MPs also expressed concern about applying GST to outbound mobile roaming services used by a NZ resident travelling overseas saying it would inconsistent with Australia’s. Second reading on March 11. Under Urgency the government introduced a raft of changes. These most notably included extending the brightline test for capital gains on residential housing from five years to ten. Passed through remaining stages with National and ACT opposed on March 23. Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill