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 Following a backlash over the impact of the GST changes on KiwiSaver fees the bill was withdrawn and reintroduced on Sept 8 with those provisions removed.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