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.

The amendments proposed by this bill in relation to the COVID-19 resurgence support payments scheme are aimed at assisting with the impacts of further COVID-19 outbreaks. This bill also sets the minimum family tax credit threshold for the 2021-22 and later tax years.

This bill increases the Minimum Family Tax Credit threshold from 1 July 2021 as a consequence of increases to Social Welfare benefits, and corrects a small drafting error made in the Child Support Amendment Act 2021, as to the timing of commencement for two of the late payment penalty changes.

This bill amends the Hazardous Substances and New Organisms Act 1996 to improve the assessment and reassessment of hazardous substances.

This omnibus bill contains taxation amendments aimed at setting the annual rates of income tax for the 2021-22 tax year, improving current tax settings within a broad-base low-rate framework, and improving the settings for tax administration, the goods and services tax regime, KiwiSaver, and social policy rules administered by Inland Revenue.

This bill amends the Resource Management Act 1991 to rapidly accelerate the supply of housing where the demand for housing is high. This will help to address some of the issues with housing choice and affordability that Aotearoa New Zealand currently faces in its largest cities.

The amendments proposed by this bill relate to the COVID-19 resurgence support payments scheme and to Working for Families tax credit settings.

This bill will amend the Fisheries Act 1996. It will require several consequential amendments to the commercial and recreational fishing regulations and supports a commercial fishing sector that is innovative and technology driven, has highly selective practices, and is responsive to cumulative pressures on the marine environment caused by, for example, climate change.

The proposed amendments in the bill are in relation to the Cost of Living Payments Scheme, which is aimed at providing financial support to eligible low- to middle-income individuals facing increased cost-of-living pressures because of the recent spike in inflation.

This bill aims to ensure that overseas investments that result in the conversion of farm land or other land to forestry benefits New Zealand, and that any risks can be better managed.