Annual tax bill, completed its first reading on March 11 and sent to the Finance and Expenditure Committee with a report back deadline of September 11. The bill also contains changes to the tax treatment of research and development, GST and bodies corporate, as well as wide ranging change to child support clawing back some planned reforms. Reported back Sept 3 with many changes, mostly technical. Notably the eligibility for tax credits for loss making research and development was expanded and the administration handed to the Ministry of Business, Innovation and Employment and the Callaghan Institute. Second reading completed on a voice vote on October 20. Committee stage interrupted on December 1 and completed on February 10 with the Govt making a number of amendments. Third reading completed on February 16 on a voice vote though Opposition parties argued it did not do enough to promote R&D.  Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Bill

Introduced on May 3 the bill sets tax rates for the coming financial year. The Bill proposes amendments to the definitions of a look-through company and look-through counted owner, to tighten the eligibility criteria for a company electing to become a LTC. Other changes are proposed to non-resident withholding tax for related party and branch lending; the goods and services tax; related parties debt remission; loss grouping and imputation; remission income, insolvency, and bankruptcy; aircraft overhaul reserves; New Zealand double tax agreements; Schedule 32 donee status for charities; land tainting and council controlled organisations; loss offsets by mineral miners; Working for Families tax credits; information sharing; and the application of the time bar to ancillary taxes; and makes other remedial amendments. Received its first reading on June 15 on a voice vote. It was sent to the Finance and Expenditure Committee with submissions closing on July 29 and a report due by December 15. Reported back on November 24 with minor and technical amendments. Second reading completed on March 9 and committee stage on March 14. An attempt by NZ First to bring in tax relief for strengthening earthquake prone buildings was defeated with just Labour in support. Third reading completed on March 23 on a voice vote. Taxation (Annual Rates for 2016-17, Closely Held Companies, and Related Matters) Bill

Introduced on April 6. Omnibus tax bill which continues to update administration of tax law and IRD. This includes measures relating to employment and investment income information, the electronic filing threshold for goods and services tax (GST), amendments to the pay as you earn (PAYE) rules, and amendments to penalty and interest rules. The Bill also roposes a number of changes to the collection of investment income information, changes to the taxation of employee share schemes and the tax treatment of oil rig decommissioning. Completed its first reading on a voice vote on May 24 and was sent to the Finance and Expenditure Committee for consideration. Reported back on Feb 20 with a large number of mainly technical amendments. Completed committee stage on March 20. During this the Govt introduced an amendment extending the two year bright line test for taxation on real estate sales to five years. This was strongly opposed by National. Completed third reading on March 27 with National still opposed. Taxation (Annual Rates for 2017-18, Employment and Investment Income, and Remedial Matters) Bill

Introduced on June 28. An omnibus bill amending a number of tax Acts. It confirms the annual rates of income tax for the 2018/19 tax year, contains proposals to modernise and improve the administration of the tax system. Amongst the changes are the rules around secondary tax, automatic refunds for many people whose only income is from salary, wages, or investment. The bill clarifies that information collected for one Inland Revenue purpose can be used for the department’s other functions. There is also the introduction of a short process ruling, where small businesses can more easily apply for a binding ruling from Inland Revenue on a broad range of matters. This bill also provides the Commissioner of Inland Revenue with more flexibility to correct anomalies in the tax legislation. The bill also proposes a suite of changes to KiwiSaver as a result of the Retirement Commission’s 2016 review of retirement income policies. These changes range from introducing more choice for employee contribution rates to making it easier for our older working population to join and stay in KiwiSaver. First reading completed on July 3 with National opposed saying while it supported much of the Bill it could not support the Government’s wider tax programme. Referred to the Finance and Expenditure Committee. Reported back on Jan 16. Powers for the Commissioner to amend tax legislation have been dropped and there are many technical changes. Second reading interrupted on Feb 14 and completed on Feb 19 with National, ACT and Ross opposed. Committee stage completed on March 5 and the third reading on March 12 with the Government highlighting changes to secondary tax treatment. Taxation (Annual Rates for 2018-19, Modernising Tax Administration, and Remedial Matters) Bill

Introduced on Dec 5. The Bill sets the tax rates for 19/20. It also brings in new rules for the collection of GST on low value goods (under $1000) imported into NZ, the ring fencing of of losses on rental accomodation, changes to the administration of social policy related tax administration and remedial amendments. First reading completed on Dec 11 with National and ACT opposed mainly on the grounds of the ring fencing measures as they were unfair to those with rental properties. Reported back on May 31 with a large number of mainly technical changes. These included delaying the commencement date for the proposed new GST rules to December to give time for suppliers to make changes. Also exemptions to the ring fencing rules are extended to government enterprises and non-close companies. MPs also agreed to give the IRD power to make minor modifications to tax legislation with provisos, including giving the taxpayer has the right either to choose to accept the modification or not and any errors the Commissioner wishes to remedy need to be addressed in primary legislation within 3 years. Second reading completed on June 13 with National opposed. The govt made a number of changes at committee stage on June 18 including requiring most people who buy and sell properties to supply their IRD number on land transfer documentation. Third reading completed on June 20 with National opposed. Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Bill

Introduced on June 4, 2020. The Bill sets the annual rates of income tax for the 2020–21 tax year. Other proposals include amendments to the income tax treatment of feasibility expenditure and land. It also aims to modernise tax administration, the goods and services tax regime, KiwiSaver and social policy rules administered by Inland Revenue. First reading June 24 opposed by National and ACT. Report back due by March 4,  2021. Reported back on March 4 with a large number of changes. Amongst them are amendments to the the clawback provisions on abandoned provisions due to concerns the proposals may incentivise taxpayers to prematurely abandon projects before reinstating them. The committee also warned amending the tax rules governing purchase price allocation may be problematic and cause compliance difficulties. It recommended the new regime should be kept under review. National MPs also expressed concern about applying GST to outbound mobile roaming services used by a NZ resident travelling overseas saying it would inconsistent with Australia’s. Second reading on March 11. Under Urgency the government introduced a raft of changes. These most notably included extending the brightline test for capital gains on residential housing from five years to ten. Passed through remaining stages with National and ACT opposed on March 23. Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill

Introduced on Sept 8. The bill sets annual rates of income tax for 2021-22 and a wide range of other measures. These include the exclusion of cryptoassets from GST and the financial arrangements rules, the GST treatment of the domestic leg of the international transport of goods, changes to GST apportionment rules and the keeping of records. First reading on Sept 23 with National and ACT opposed and the Greens abstaining.  Committee stage on March 17 and third reading on March 29 with no change in parties positions.

Taxation (Annual Rates for 2021-22, GST, and Remedial Matters) Bill

Omnibus tax bill introduced on Aug 30 to set the annual rates of income tax for the 2022-23 tax year. The bill also includes 190 provisions for changes to tax administration. This included a proposal to standardise the application of GST to fees and services of managed fund providers. Following a backlash over the impact of the GST changes on KiwiSaver fees the bill was withdrawn and reintroduced on Sept 8 with those provisions removed. First reading on Sept 21 with National and Act opposed, referred to the Finance and Expenditure Committee. Reported back on March 1 with a number of changes particularly around the regime for charging GST on the “platform economy”, taxation of cross-border workers, and allowing build-to-rent housing to claim interest. Second reading on March 8 with National and Act opposed. Committee stage completed on March 14 with the govt making a last minute change exempting bikes, electric bikes and scooters from fringe benefit tax when used for work commuting. Committee stage March 14 and third reading March 31 with no change in positions.

Taxation (Annual Rates for 2022-23, Platform Economy, and Remedial Matters) Bill

Introduced on May 18 under urgency. The bill sets the tax rate for 23/24 and a number of other things. These include the introducing the OECD led Global Anti-Base Erosion (GloBE) rules in NZ and aligning the trustee tax rate with the 39% top personal tax rate from the 2024–25 income year. Opposed by National and Act and sent to the finance and expenditure committee. Reported back on March 19 with a number of amendments including around tax on trusts. Second reading on March 19. In the committee stage on March 26, the govt introduced further change including restoring interest deductibility for residential property investors and reducing that brightline test. Third reading on March 26 with National, Act and NZ First in favour.

Taxation (Annual Rates for 2023-24, Multinational Tax and Remedial Matters) Bill

Introduced on August 25. The Bill proposes a new “bright-line” test, which will require income tax to be paid on any gains from residential property purchased and sold within two years, with some exceptions. The exceptions include the sale of an owner’s main home, inherited property, or the transfer of property in a relationship settlement. Received its first reading on Sept 8 supported by all parties except NZ First despite reservations from Opposition parties about the effectiveness of the bill. Sent to the Finance and Expenditure Committee for consideration with a report back date of Oct 22 and submissions closing on Sept 17. The bill is set to take retrospective effect from Oct 1. Reported back from select committee on October 22 with minor changes. Labour, Greens and NZ First all opposed  to the report saying the bill was a token political effort which would cause more problems than it fixed. Completed its second reading on Nov 3 heavily criticised by Opposition parties but progressed by 109 to 12 with just NZ First opposed. Committee stage completed on Nov 10 with an Opposition amendment to extend the bright line test from two years to five years defeated. Third reading completed on Nov 12 with just NZ First opposed. Taxation (Bright-line Test for Residential Land) Bill