Source: Inland Revenue Department –
On 30 March, the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 was granted Royal assent and passed into law.
A special report on the new legislation is now available and provides early information on:
- land-related amendments (including the extension to the bright-line test)
- feasibility expenditure
- purchase price allocation
- unclaimed money, and
- other changes.
Comprehensive coverage of the new Act will be published in an upcoming edition of the Tax Information Bulletin.
