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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.