New Zealand Acts

TAXATION (INCOME TAX RATE AND OTHER AMENDMENTS) ACT 2020

- As at 30 March 2021
- Act 65 of 2020

TABLE OF PROVISIONS

   1.      Title
   2.      Commencement

   PART 1 - Income tax rate amendments

   3.      Application
   4.      Income Tax Act 2007
   5.      Section RD 10 amended (Amounts of tax for PAYE income payments)
   6.      Section RD 17 amended (Payment of extra pay with other PAYE income payments)
   7.      Section RD 50 amended (Employer's liability for attributed benefits)
   8.      Section RD 52 amended (Calculation for certain employees when information lacking)
   9.      Section RD 53 amended (Pooling non-attributed benefits)
   10.     Section RD 58 amended (Single rate option)
   11.     Section RD 59 amended (Alternate rate option)
   12.     Section RD 60 amended (Close company option)
   13.     Section RD 61 amended (Small business option)
   14.     Section RD 67 amended (Calculating amounts of tax for employer’s superannuation cash contributions)
   15.     Section RL 4 amended (How much RLWT?)
   16.     Schedule 1, part A, table 1 amended (Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits)
   17.     Schedule 1, part C, table 1 amended (Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits)
   18.     Schedule 1, part D, table 1 amended (Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits)
   19.     Schedule 1, part D, table 2 amended (Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits)
   20.     Schedule 1, part D, table 3 amended (Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits)
   21.     Schedule 1, part D, table 4 amended (Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits)
   22.     Schedule 1, part D, table 5 amended (Basic tax rates: income tax, ESCT, RSCT, RWT, and attributed fringe benefits)
   23.     Schedule 2, part A amended (Basic tax rates for PAYE income payments)
   24.     Schedule 2, part B, table 1 amended (Basic tax rates for PAYE income payments)
   25.     Schedule 6, table 2 amended (Prescribed rates: PIE investments and retirement scheme contributions)
   26.     Tax Administration Act 1994
   27.     Section 28C amended (Person advising retirement savings scheme of retirement scheme prescribed rate)
   28.     Section 48B amended (Reconciliation statement for retirement scheme contribution withholding tax)
   29.     Schedule 4, table 1 amended (Reporting of employment information)
   30.     Schedule 5, part A, clause 1 amended (Certain tax codes and rates)
   31.     Schedule 5, part A, tax code table amended (Certain tax codes and rates)

   PART 2 - Other amendments

   32.     Tax Administration Act 1994
   33.     New section 17GB inserted (Commissioner may require information or production of documents for tax policy development)
   34.     Section 59 amended (Disclosure of trust particulars)
   35.     New sections 59BA and 59BAB inserted
   36.     Income Tax Act 2007
   37.     Section ME 1 amended (Minimum family tax credit)
   38.     Section YA 1 amended (Definitions)