NEW Zealand has passed legislation which proposes amendments to the tax disputes
process; introduction of rollover depreciation relief for Canterbury businesses,
and amendments to facilitate the sharing of tax information between Inland
Revenue and other countries. Mr Dunne, the Revenue
Minister has said that he is particularly pleased at the abolition of gift duty,
describing it as a tax that imposed compliance costs and which was “well past
its use-by date”. The abolition of gift duty will take effect on October 1,
2011.
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