Cabinet paper

Cabinet Paper CAB-23-SUB-0142: Ensuring Everyone Pays their Fair Share by Increasing the Trustee Tax Rate to 39%

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Accessible version

Only the Proposal section of this Cabinet paper is extracted below in HTML. If you require a full accessible version please contact [email protected] and cite: "Cabinet Paper CAB-23-SUB-0142: Ensuring Everyone Pays their Fair Share by Increasing the Trustee Tax Rate to 39%" as a reference.

Ensuring Everyone Pays their Fair Share by Increasing the Trustee Tax Rate to 39%#

Proposal

1This paper seeks Cabinet’s agreement to align the trustee tax rate with the top personal tax rate at 39% for the 2024–25 and later income years (beginning 1 April 2024 for most trusts).

2If approved, we propose including the necessary legislative amendments in a bill to be introduced on Budget night.

[Extract ends]