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Proposed tax changes

Proposed tax changes

The Taxation (Annual Rates for 2018-19, Modernising Tax Administration, and Remedial Matters) Bill was introduced into parliament in June 2018. The Bill seeks to improve tax administration and modernise the revenue system by making tax “simpler and easier” for individuals.
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Farmers: Have you been affected by the floods?

Farmers: Have you been affected by the floods?

On 15 July 2014, the Minister of Revenue, the Hon Todd McClay, announced that flood affected farmers in Northland will be offered assistance through Inland Revenue’s income equalisation scheme following the declaration of a medium scale adverse event by the Primary Industries Minister, the Hon Nathan Guy. The income equalisation scheme allows farmers to better manage peaks and troughs in their income by allowing money to be put aside from a better year and withdrawn against a not so good ...
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