In December 2008 the Treasury 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.
Accessible versions
Documents are available in Adobe PDF format only. Please contact [email protected] to request HTML versions.
| Doc. Date Sort ascending | Creator | Title |
|---|---|---|