Introduced on Dec 5. The Bill sets the tax rates for 19/20. It also brings in new rules for the collection of GST on low value goods (under $1000) imported into NZ, the ring fencing of of losses on rental accomodation, changes to the administration of social policy related tax administration and remedial amendments. First reading completed on Dec 11 with National and ACT opposed mainly on the grounds of the ring fencing measures as they were unfair to those with rental properties. Reported back on May 31 with a large number of mainly technical changes. These included delaying the commencement date for the proposed new GST rules to December to give time for suppliers to make changes. Also exemptions to the ring fencing rules are extended to government enterprises and non-close companies. MPs also agreed to give the IRD power to make minor modifications to tax legislation with provisos, including giving the taxpayer has the right either to choose to accept the modification or not and any errors the Commissioner wishes to remedy need to be addressed in primary legislation within 3 years. Second reading completed on June 13 with National opposed. The govt made a number of changes at committee stage on June 18 including requiring most people who buy and sell properties to supply their IRD number on land transfer documentation. Third reading completed on June 20 with National opposed. Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Bill

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

Introduced on Sept 8. The bill sets annual rates of income tax for 2021-22 and a wide range of other measures. These include the exclusion of cryptoassets from GST and the financial arrangements rules, the GST treatment of the domestic leg of the international transport of goods, changes to GST apportionment rules and the keeping of records. First reading on Sept 23 with National and ACT opposed and the Greens abstaining.  Committee stage on March 17 and third reading on March 29 with no change in parties positions.

Taxation (Annual Rates for 2021-22, GST, and Remedial Matters) Bill

Omnibus tax bill introduced on Aug 30 to set the annual rates of income tax for the 2022-23 tax year. The bill also includes 190 provisions for changes to tax administration. This included a proposal to standardise the application of GST to fees and services of managed fund providers. Following a backlash over the impact of the GST changes on KiwiSaver fees the bill was withdrawn and reintroduced on Sept 8 with those provisions removed. First reading on Sept 21 with National and Act opposed, referred to the Finance and Expenditure Committee. Reported back on March 1 with a number of changes particularly around the regime for charging GST on the “platform economy”, taxation of cross-border workers, and allowing build-to-rent housing to claim interest. Second reading on March 8 with National and Act opposed. Committee stage completed on March 14 with the govt making a last minute change exempting bikes, electric bikes and scooters from fringe benefit tax when used for work commuting. Committee stage March 14 and third reading March 31 with no change in positions.

Taxation (Annual Rates for 2022-23, Platform Economy, and Remedial Matters) Bill

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

Introduced on August 25. The Bill proposes a new “bright-line” test, which will require income tax to be paid on any gains from residential property purchased and sold within two years, with some exceptions. The exceptions include the sale of an owner’s main home, inherited property, or the transfer of property in a relationship settlement. Received its first reading on Sept 8 supported by all parties except NZ First despite reservations from Opposition parties about the effectiveness of the bill. Sent to the Finance and Expenditure Committee for consideration with a report back date of Oct 22 and submissions closing on Sept 17. The bill is set to take retrospective effect from Oct 1. Reported back from select committee on October 22 with minor changes. Labour, Greens and NZ First all opposed  to the report saying the bill was a token political effort which would cause more problems than it fixed. Completed its second reading on Nov 3 heavily criticised by Opposition parties but progressed by 109 to 12 with just NZ First opposed. Committee stage completed on Nov 10 with an Opposition amendment to extend the bright line test from two years to five years defeated. Third reading completed on Nov 12 with just NZ First opposed. Taxation (Bright-line Test for Residential Land) Bill

Introduced on May 20. The Bill increases the Minimum Family Tax Credit threshold as a consequence of increases to benefits, and corrects a drafting error made in the Child Support Amendment Act , as to the timing of commencement for two of the late payment penalty changes. Passed through all stages under Urgency with ACT opposed and the Greens abstaining.
Taxation (Budget 2021 and Remedial Matters) Bill

Introduced under Urgency on May 30 and passed through all stages with National, Act and NZ First in support. The bill made changes to personal tax rates as announced in the Budget and raft of flow on adjustments as a result. Also increased the interest rate on student loans. Passed under all stages in the May 30 Urgency session with National, Act and NZ First in favour.

Taxation (Budget Measures) Bill

Introduced on August 8. The Bill introduces new disclosure requirements for foreign trusts following the Shewan Inquiry. The Bill also provides a new pay-as-you-go option for small businesses to pay their provisional tax, from April 2018. It also proposes removing the 1% monthly incremental late payment penalty on new GST, income tax, and the Working for Families tax credit debts, from 1 April 2017. Received first reading on August 11 with all parties except NZ First supporting. Its MPs argued the disclosure regime did not go far enough. Other Opposition parties indicated they would argue for the register of foreign trusts to be publicly available and not restricted to the Police and IRD. Referred to the Finance and Expenditure Committee. Reported back on November 28 with a number of changes. These include limits on ministerial power to change tax rules to fit the capability of IRD’s systems to implement intended changes. Labour, the Greens  and NZ First said they supported the Bill, however the changes to foreign trust laws did not go far enough. In particular not extending the reporting requirements to lawyers, accountants, and real estate agents. They also wanted a publicly available register. Second reading completed on February 7 and committee stage on February 8 with general agreement despite dispute over the detail of the bill. Third reading completed on February 14 on a voice vote.   Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill

Introduced on May 19 under Urgency, the bill approves cost-of-living payments of $350 for low- to middle-income individuals earning up to $70,000 per annum and who are not eligible for the winter energy payment. The payments will be made in 3 monthly instalments from 1 August 2022. Passed through all stages with National and Act opposed and the Greens abstaining.

Taxation (Cost of Living Payments) Bill