Scoop has an Ethical Paywall
Licence needed for work use Learn More
Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Taxation (Annual Rates For 2020-21, Feasibility Expenditure, And Remedial Matters) Bill

Have your say on the Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill

The Finance and Expenditure Committee is calling for submissions on the Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill. The closing date for submissions is Wednesday 12 August 2020.

The purpose of this bill is to set the annual rate of income tax for the 2020-21 tax year. The bill includes a number of proposals aimed at improving current settings for tax administration, the GST regime, KiwiSaver, and social policy rules administered by IRD.

The Minister of Revenue released Supplementary Order Paper 510 on 16 June 2020. This SOP proposes various changes to the bill that would update the law regarding unclaimed money. The Unclaimed Money Act 1971 has not been reviewed since its enactment, and does not reflect new developments in technology and other changes to administrative practice. The SOP also provides for a temporary increase to the individual tax write-off threshold for automatically calculated assessments. This temporary increase would benefit taxpayers, and is part of the Government’s COVID-19 response.

Tell the Finance and Expenditure Committee what you think

Make a submission on the bill by 12:00 noon, Wednesday 12 August 2020.

For more details about the bill:

Advertisement - scroll to continue reading

· Read the full content of the bill

· Get more details about the bill

· Follow the committee’s Facebook page for updates

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 
 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.