Tax bill to grow the economy and ease cost of living

Revenue Minister Simon Watts has introduced a new tax bill aimed at boosting New Zealand’s economy, helping businesses grow, and making it easier for skilled people to live and work here.

“This Government’s top priority is growing the economy so we can deliver more jobs, higher wages, and lower costs for New Zealanders,” Mr Watts says.

“One way to do that is by making New Zealand a place where talented people and investors want to stay and build their futures.”

“Currently, new migrants are taxed on estimated overseas income, even if they don’t actually receive it. The new law will change
that, so they are only taxed on money they actually earn.

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