The Government today introduced the Taxation (Livestock Valuation, Assets Expenditure, and Remedial Matters) Bill. Taxmail summarises the key changes in the Bill.
While the broad changes were announced earlier this year, the draft legislation does contain some ‘fish hooks’, such as a proposed interest apportionment rule where a mixed-use asset is held through a close company.
Other changes in the September Tax Bill include further changes to the livestock valuation regime, various GST changes and miscellaneous remedial items.
- See the Bill and IRD commentary
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