Budget 2013 tax announcements
Posted by: Peter Tolan - Director
Date: 23 May 2013
Tax break - improved the tax treatment of specific forms of business "black hole" expenditure. Fact sheet - Black hole expenditure fact sheet
Tax Break - cash out tax losses for research and development intensive start-up firms. Media statement - R&D tax-break proposal to boost start-ups
Property dealers - timing is everything. Clarify the date when land is acquired for sale or disposal media statement - Property investment focus to return $45m a year
Student Loans Scheme:
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Information-sharing agreement between Inland Revenue and the Department of Internal Affairs to collect contact details from passport renewal applications.
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Adjusting the overseas-based borrower repayment thresholds so that borrowers with higher loan balances have a higher repayment obligation.
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Making it an offence for a borrower to knowingly default on an overseas-based borrower repayment obligation so that an arrest warrant can be requested to prevent the most non-compliant borrowers from leaving the country.
Full details of Budget 2013 announcements are available at www.treasury.govt.nz/budget/2013