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Source: New Zealand Inland Revenue Department – Press Release/Statement:

Headline: Tax Bill containing Budget measures introduced

The Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill has been introduced into the House. The Bill contains the following measures:

  • the annual rates of income tax for the 2023–24 tax year (unchanged)
  • implementing the OECD Global Anti-Base Erosion rules
  • raising the trustee tax rate from 33% to 39%
  • amending the tax treatment of backdated lump sum ACC and MSD payments
  • making a three percent KiwiSaver Government contribution to recipients of Paid Parental Leave who make their own contribution of at least 3%.
  • tax relief measures for flood-hit businesses in the North Island.

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