Public submissions are now being called for Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill
The closing date for submissions is Wednesday, 12 August 2020
The bill’s purpose is to set the annual rate of income tax for the 2020-21 tax year. The bill includes a number of proposals aimed at improving current settings for tax administration, the GST regime, KiwiSaver, and social policy rules administered by IRD.
The Minister of Revenue released Supplementary Order Paper 510 on 16 June 2020. This SOP proposes various changes to the bill that would update the law regarding unclaimed money. The Unclaimed Money Act 1971 has not been reviewed since its enactment, and does not reflect new developments in technology and other changes to administrative practice. The SOP also provides for a temporary increase to the individual tax write-off threshold for automatically calculated assessments. This temporary increase would benefit taxpayers, and is part of the Government’s COVID-19 response.
This bill is available online from the ‘Related links’ panel.
What do you need to know?
- Submissions are publicly released and published to the Parliament website. Only your name or organisation’s name is required on a submission. Please keep your contact details separate, as if they are included on the submission they will become publicly available when the submission is released.
- If you wish to include information of a private or personal nature in your submission you should discuss this with the clerk of the committee before submitting.
- If you wish to speak to your submission, please state this clearly.
Further guidance on making a submission can be found from the ‘How to make a submission’ link in the ‘Related documents’ panel.
If you have any questions about your submission or the submission process please contact the Committee Staff through the contact details provided on this page.