Source: Inland Revenue Department –
This special report provides early information on new legislation in the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021, enacted on 30 March 2021.
The report covers:
- 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.