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<p>The Government has announced two tax proposals as part of its mini-Budget:</p>
<ul>
<li>Returning the bright-line test to a two-year period from 1 July 2024.</li>
<li>Removing depreciation deductions for commercial and industrial buildings from 1 April 2024.</li>
</ul>
<p>These two measures will be included in a taxation Bill currently being considered by the Finance and Expenditure Committee.</p>
<p> For more information, see the <a href="https://www.beehive.govt.nz/release/first-steps-tax-and-income-relief-announced" class="quick-links-external">Minister of Finance’s press release</a>.</p>
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