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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

MIL OSI