Public 2010 No 109
Issued
2010

Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010

Amendments to tax legislation resulting from the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010

The Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Bill was introduced into Parliament on 19 November 2009. It received its first reading on 8 December 2009, its second reading on 22 June 2010 and the third reading on 24 August 2010.

Several changes included in Supplementary Order Papers 105, 156 and 157 were made after the bill's introduction. They included measures to change the tax treatment of expenditure on films that receive a New Zealand screen production incentive, repeal the fund withdrawal tax, address the tax treatment of certain optional convertible notes, clarify RWT rates, introduce transitional arrangements for the GST rate and address "overreach" in the imputation credit rules.

The resulting Act received Royal assent on 7 September 2010. It amends the Income Tax Act 2007, Tax Administration Act 1994, KiwiSaver Act 2006, Goods and Services Tax Act 1985, the Estate and Gift Duties Act 1968, Income Tax Act 2004, Taxation (Budget Measures) Act 2010, Local Government Act 2002 and the Tax Administration (Binding Rulings) Regulations 1999.