• Service: Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 5/16/2013

New Zealand - Budget 2013 commentary 

May 16: New Zealand’s Budget 2013 was presented 16 May 2013. From a tax perspective, there are few major announcements.

The key tax changes for businesses are refunds for R&D tax losses for small start-ups and clarification of “black hole” deductibility, along with confirmation that the thin capitalisation rules will change.

Also, businesses that are “R&D heavy” (as well as those with operations in the tourism sector or in residential or commercial construction in Auckland or Christchurch) may find some “good news” in the budgetary proposals.

For other businesses, a reduction in ACC* levies is really the only material change.

*Accident Compensation Corporation or worker compensation fund

Read more about the Budget 2013 and commentary from the KPMG member firm in New Zealand.

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