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Tax Tips Alert: September 2022
Omnibus Taxation Bill introduced to Parliament
The Government recently introduced the Taxation (Annual Rates for 2022-23, Platform Economy, and Remedial Matters) Bill (“the Bill”) to Parliament. The Bill as originally introduced attracted significant attention for its proposals relating to GST for managed funds, and the flow-on impact on KiwiSaver balances. The Government subsequently announced that the proposals would not be going ahead, and the Bill was withdrawn and subsequently reintroduced to Parliament on 8 September.
In addition to the now scrapped proposal referred to above, the Bill includes a number of other significant tax changes. In this Tax Tips, we discuss the main proposals, including:
- Information collection and reporting for platform operators in the gig and sharing economy
- GST changes for platform operators in the gig and sharing economy
- Various changes relating to tax obligations for cross-border workers
- FBT exemption for public transport
- Changes relating to dual resident companies
- Various housing tax changes
- GST apportionment
- GST on legislative charges (such as levies)
- GST invoicing changes
If you would like any further detailed advice on what these announcements mean for you, please reach out to your usual PwC advisor.
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