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Revenue

Associated Ministers

24 July, 2014

Address to the BDO Tax Conference

Taxation is a necessary part of society as long as government is required to provide services such as health, education, police, social welfare and rebuilding Christchurch.

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18 July, 2014

Tax officials to work with bloodstock breeding industry

Racing Minister Nathan Guy and Revenue Minister Todd McClay have confirmed that Inland Revenue officials will work with the New Zealand Thoroughbred Breeders’ Association on a number of tax issues raised by the industry.

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15 July, 2014

Tax relief for Northland flood affected farmers

Revenue Minister Todd McClay has said that flood affected farmers in Northland will be offered assistance through Inland Revenue’s income equalisation discretion following the declaration of a medium scale adverse event by Primary Industries Minister Nathan Guy this morning.

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3 July, 2014

Tax pooling to become more taxpayer friendly

Revenue Minister Todd McClay has signalled changes to tax pooling rules will mean that taxpayers can use tax pooling arrangements to pay any interest owed as a result of a tax dispute or an amended tax assessment.

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3 July, 2014

OECD response to BEPS gathers momentum

An international solution to base erosion and profit shifting (BEPS) moved a step closer at OECD discussions involving IRD officials last week, says Revenue Minister Todd McClay.

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2 July, 2014

Henri Eliot to chair Tax Simplification Panel

Revenue Minister Todd McClay has announced Board Dynamics founder, Henri Eliot, as the Chair of the new Taxpayer’s Simplification Panel.

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26 June, 2014

FIF deemed rate of return set for 2013–14

Revenue Minister Todd McClay has announced that the deemed rate of return for taxing foreign investment fund (FIF) interests has been set at 7.99% for the 2013–14 income year, up from 6.91% for the previous income year.

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25 June, 2014

Labour’s tax avoidance policy redundant

Revenue Minister Todd McClay has accused Labour of announcing policy on tax avoidance that either misses the point or is completely redundant.

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23 June, 2014

NZ working on OECD tax avoidance plan

Senior New Zealand tax officials are this week working with the OECD in Paris to prepare for delivery of the first parts of the OECD’s action plan to counter base erosion and profit shifting, says Revenue Minister Todd McClay.

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19 June, 2014

Tax Bill passes third reading

Revenue Minister Todd McClay welcomed the passage of the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Bill through Parliament today, saying it would “help support business growth and innovation”.

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12 June, 2014

Intergovernmental FATCA agreement signed

Revenue Minister Todd McClay and United States Chargé d’Affaires a.i., Marie Damour, today signed an intergovernmental-agreement (IGA) which will minimise compliance costs to financial institutions in New Zealand while assist in the prevention of tax evasion.

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12 June, 2014

Address to 21st Century Tax Administration Conference

The strength of the New Zealand tax system is its highly cooperative nature so it’s great to have such world leading speakers here with us. I'm sure tax policy and IRD's Business Transformation programme can only benefit from your expertise.

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9 June, 2014

Job done for Rewrite Advisory Panel

Revenue Minister Todd McClay has announced that the Rewrite Advisory Panel is likely to have completed its work and will therefore be disestablished by the end of 2014.

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6 June, 2014

Fairness and certainty for bodies corporate

Minister of Revenue Todd McClay has announced his intention to clarify through legislation that bodies corporate will not be required to register for GST and file returns, thereby aligning them with the rules for other residential property owners.

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3 June, 2014

Congratulations, but more to do for IRD

Revenue Minister Todd McClay has congratulated Inland Revenue on being named Department of the Year in TransTasman’s Annual Departmental Briefing Report.

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29 May, 2014

FBT rate for low-interest loans to rise

Revenue Minister Todd McClay has announced the new prescribed interest rate used to calculate fringe benefit tax on low-interest loans provided by employers will be 6.13% from 1 July 2014.

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28 May, 2014

Tax Simplification Panel to give Kiwis a say

Revenue Minister Todd McClay has announced the establishment of the Taxpayer’s Simplification Panel to give New Zealanders a voice in simplifying, modernising and transforming the way we pay tax.

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28 May, 2014

Information-sharing agreement to combat serious crime

Police Minister Anne Tolley and Revenue Minister Todd McClay say a new information-sharing agreement between Inland Revenue and the Police will help fight serious crime.

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27 May, 2014

Second reading for tax bill providing clarity

Revenue Minister Todd McClay says that the Taxation (Annual Rates, Employee Allowances, and Remedial Matters) Bill, which passed its second reading today, is an example of the Government’s focus on coherence and fairness in the tax system.

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22 May, 2014

Budget 2014: Funding to improve Child Support payments

The Government has allocated funding in Budget 2014 to increase the collection of Child Support from liable parents and improve the promptness of payments, says Revenue Minister Todd McClay.

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15 May, 2014

Cheque duty to be abolished in July

Cheque duty will be abolished from 1 July 2014, Revenue Minister Todd McClay says.

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15 May, 2014

Budget boosts parental tax credit for families

The Government is extending the parental tax credit to help many lower- and middle-income families at a time when they most need it - the birth of a new baby, Social Development Minister Paula Bennett and Revenue Minister Todd McClay say.

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15 May, 2014

Two new tax measures to support business R&D

Innovative Kiwi businesses investing in research and development (R&D) will benefit from two new tax measures as part of Budget 2014, Science and Innovation Minister Steven Joyce and Revenue Minister Todd McClay say.

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14 May, 2014

Sign Language videos for IRD customers

Revenue Minister Todd McClay has welcomed the release of seven new videos that will help make tax compliance easier for customers who are hearing impaired.

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12 May, 2014

Budget 2014: Extra $132m for tax compliance

Budget 2014 will allocate $132 million to Inland Revenue over the next five years to bolster its tax compliance activities and for chasing up unfiled returns, Revenue Minister Todd McClay says.

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7 May, 2014

Address to Asian Development Bank’s 47th Annual Meeting

New Zealand extends its thanks to the Government of Kazakhstan, and to the staff of the Asian Development Bank, for their efforts organising this 47th Annual Meeting of the ADB.

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7 May, 2014

Tax Agreement with Viet Nam now in force

New Zealand's new double tax agreement with Viet Nam has now come into force, Revenue Minister Todd McClay announced today.

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1 May, 2014

McClay to attend ADB Annual Meeting in Kazakhstan

Revenue and Associate Tourism Minister Todd McClay today leaves for Kazakhstan to attend the Asian Development Bank’s Annual Meeting, the OECD Ministerial Council meeting in Paris, and tourism meetings in London.

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30 April, 2014

Request for Proposal next step towards Transformation

Inland Revenue’s Business Transformation has taken another step towards making tax compliance easier for New Zealanders and their businesses with the release of a Request for Proposal for a design provider, says Revenue Minister Todd McClay.

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28 April, 2014

McClay congratulates App4IR winners

Revenue Minister Todd McClay has congratulated Matt Innes and Josh Lee on winning the App4IR Challenge.

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