New Zealand

Information provided by the IBA Taxes Committee members.

Value Added Tax

  • N/A

Corporate Income Tax

  • Increase in the threshold before provisional tax applies from NZD 2,500 to NZD 5,000 from the 2020/21 income year.

Social Security Contributions/Payroll Tax

  • N/A

Other relief measures

  • The ability to take an immediate deduction for any assets costing NZD 5,000 or less in the 2020/21 income year.
  • Reintroduction of depreciation on commercial and industrial buildings at the rate of 2% from the 2020/21 income year.
  • Ability to apply for use of money interest write-offs for tax debts post 14 February 2020, if they are due to COVID-19.

Additional comments

  • N/A