Legislation introduced on 8 August 2016 in the Taxation (Business Tax, Exchange of Information, and Remedial Matts) Bill received Royal assent last week. The new Act is now available on the New Zealand Legislation website.

Special reports providing early information are now available on:

– measures to implement the G20/OECD standard for the automatic exchange of information, and

– a suite of simplified business tax processes, including a new way for businesses to pay their provisional tax.

A special report on foreign trust disclosure rules will also be published soon.

Full coverage of the new Act will be published in the Tax Information Bulletin.

Source: IRD