Tax BillInformation Release
Page updated 10 Nov 2009
Released 19 Dec 2008
The Treasury has released advice provided to ministers during the preparation of the Taxation (Urgent Measures and Annual Rates) Bill.
The Bill was tabled in Parliament on 9 December 2008 was passed under urgency.
The Bill introduced the following changes:
- A three-year programme of changes to personal income tax rates and thresholds from 1 April 2009
- Introduction of an independent earner tax credit of $10 a week from 1 April 2009, increasing to $15 a week from 1 April 2010
- Repeal of the R&D tax credit from the 2009-10 income year
- Changes to KiwiSaver from 1 April 2009, including a reduced employee contribution rate of 2%, capping of compulsory employer contributions at 2%, and discontinuing the employer tax credit and the fee subsidy.
Information on Other Websites
For more information on the proposed measures see:
Policy Advice Division of Inland Revenue
Beehive
- KiwiSaver - Fact Sheet
- Personal Tax Cuts – Fact Sheet
- R&D Tax Credit - Fact Sheet
- Media statements by Hon Bill English:
- Tax changes boost economy, encourage prosperity (9 December 2008)
- Changes make KiwiSaver more affordable for all (9 December 2008)
Documents
The Treasury has released the information listed below in response to and in anticipation of requests for information related to the recent changes to personal tax rates and thresholds, introduction of the independent earner tax credit, KiwiSaver and removal of the research & development tax credit. The documents released here are among the most likely to be requested under the Official Information Act.
Deletions to Documents
Some of the content of these documents has been deleted where this is:
- considered necessary to protect the privacy of natural persons, including deceased people;
- where the release of information would be likely to unreasonably prejudice the maintenance of a law; or
- to protect the confidentiality of advice tendered by Ministers of the Crown and officials
- not related to this bill.
Where these deletions have been made, the appropriate reason for deletion has been inserted as a reference.
| Doc. Date | Created By | Title | Download |
|---|---|---|---|
| 24 Nov 2008 | The Treasury | Treasury Report T2008/2190: Personal Tax Cut Package: KiwiSaver and R&D Tax Credit Options Released 19 December 2008 |
t2008-2190.pdf (215 KB) |
| 26 Nov 2008 | The Treasury | Aide Memoire: Personal Tax Decisions Released 19 December 2008 |
am-tsy-26nov08.pdf (58 KB) |
| 28 Nov 2008 | The Treasury & Inland Revenue | Joint Report by the Treasury and Inland Revenue T2008/2179: Tax Policy Report: Implementing Tax and KiwiSaver Election Commitments Released 19 December 2008 |
t2008-2179.pdf (167 KB) |
| 1 Dec 2008 | The Treasury | Aide Memoire: KiwiSaver ESCT Exemption Released 19 December 2008 |
am-tsy-1dec08.pdf (56 KB) |
| 3 Dec 2008 | The Treasury | [Notes from the Minister Prepared by Treasury:] Notes for CBC - Personal Tax and KiwiSaver Released 19 December 2008 |
notes-mof-3dec08.pdf (49 KB) |
| 5 Dec 2008 | Office of the Minister of Finance & Office of the Minister of Revenue | Memorandum for Cabinet CAB (08) 585: Taxation (Urgent Measures and Annual Rates) Bill: Policy and Approval for Introduction Released 19 December 2008 |
cab-08-585.pdf (1.6 MB) |
| 8 Dec 2008 | Cabinet Office | Cabinet Minute of Decision CAB Min (08) 45/2: Taxation (Urgent Measures and Annual Rates) Bill Released 19 December 2008 |
cabmin-08-45-2.pdf (125 KB) |
ENDS
Email: chris.ritchie@treasury.govt.nz
