Introduced on May 18 under urgency. The bill sets the tax rate for 23/24 and a number of other things. These include the introducing the OECD led Global Anti-Base Erosion (GloBE) rules in NZ and aligning the trustee tax rate with the 39% top personal tax rate from the 2024–25 income year. Opposed by National and Act and sent to the finance and expenditure committee. Reported back on March 19 with a number of amendments including around tax on trusts. Second reading on March 19. In the committee stage on March 26, the govt introduced further change including restoring interest deductibility for residential property investors and reducing that brightline test. Third reading on March 26 with National, Act and NZ First in favour.

Taxation (Annual Rates for 2023-24, Multinational Tax and Remedial Matters) Bill