Source: Inland Revenue Department –
The Minister of Revenue David Parker has introduced the Taxation (Income Tax Rate and Other Amendments) Bill. It contains four main measures:
- introducing a new top personal income tax rate of 39%
- introducing increased disclosure requirements for trusts
- increasing the Minimum Family Tax Credit threshold for the 2020–21 tax year, and
- clarifying more generally that Inland Revenue can request information solely for tax policy development purposes.
For details on these, see:
- the Minister’s media statement
- the Bill and departmental disclosure statement
- the regulatory impact assessment
- the commentary on the Bill, and
- supporting documents
