This bill introduces amendments to the Income Tax Act 2007 and the Tax Administration Act 1994 to introduce a new top personal income tax rate of 39% on annual income that exceeds $180,000, and set the minimum family tax credit threshold for the 2020-21 and later tax years.
Royal Assent given 07 December 2020.
Enacted as the Taxation (Income Tax Rate and Other Amendments) Act 2020 (2020/65)
Government bill
Passed by a majority of 23 votes (66 ayes, 43 noes, 10 abstentions)
Passed by a majority of 23 votes (66 ayes, 43 noes, 10 abstentions)
Passed by a majority of 21 votes (64 ayes, 43 noes, 10 abstentions)
Bill type | Government bill |
---|---|
Parliament | 53 |
Ref | 2-1 |
Introduced | 1 December 2020 |
First reading | 2 December 2020 |
Second reading | 2 December 2020 |
Committee of the whole House | 2 December 2020 |
Third reading | 2 December 2020 |
Royal Assent | 7 December 2020 |
Enacted as | Taxation (Income Tax Rate and Other Amendments) Act 2020 (2020/65) |
Divided | No |
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Image of David Parker: Public domain (United States Embassy, New Zealand / Department of State)