Recommended Sponsor Painted-Moon.com - Buy Original Artwork Directly from the Artist

Source: Inland Revenue Department –

An Amendment Paper for the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Bill has been released by the Minister of Revenue. It contains proposals to: 

  • Restore the ability to claim interest deductions for residential investment properties
  • Repeal the current ten and five-year bright-line tests and replace with a two-year bright-line test
  • Remove the ability to depreciate commercial buildings
  • Improve the tax treatment of the disposal of trading stock at below market value
  • Introduce a new gaming duty Introduce a transitional rule relating to platform economy rules

Amendment Paper No 20

Commentary to the Amendment Paper No 20

Regulatory Impact Statements relating to Amendment Paper No 20

MIL OSI