April 2, 2021, 5:00 a.m.
The New Zealand Parliament on March 30th announced the royal approval of Law No. 8/2021, a collective tax law. The law includes measures: 1) setting the annual income tax rates for the 2020-21 tax year; 2) clarifying investment deductions for assets and new business models; 3) a five-year equal allowance for expenses incurred in completing, creating or purchasing qualifying depreciable real estate, with immediate deductions for SMEs whose total income year cost is NZ $ 10,000 (US $ 6,996) or less ; 4) change in the rules for the habitual buying and selling of real estate, as well as for the deduction of real estate on the income account; 5) …
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