and Remedial Matters) Bill tagged posts

New Tax Bill Passed

September 22, 2009 New Zealand FinanceNew Zealand Taxation

The Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill has passed through the final stages of New Zealand Parliament.

The Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill was first introduced to parliament in March, 2008. It was intended to be a far reaching Bill, encompassing and amending many areas.

Peter Dunne, Revenue Minister, stated in regards to the bill “The reforms are aimed variously at reducing tax costs for businesses, bringing tax law up to date with today’s commercial environment, protecting our revenue base, ensuring the law works as effectively as possible, or supporting a culture of charitable giving in New Zealand.”

Changes include amendments that ensure that insurance providers are taxed on profits in comparable way...

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