Employer Bulletin | 15 January

Finance Minister Nicola Willis announced a commitment to delivering further income tax relief in the 2024 Budget.

The coalition Government is taking steps to alleviate the rising cost of living and reduce the tax burden on Kiwis. Immediate decisions include reverting the brightline test for residential property back to two years from July 1 2024 and removing the effective capital gains tax. Additionally, the Government is committed to fully restoring interest deductibility for rental properties, with details to be announced in the New Year. Further efforts are underway to implement income tax reductions, including the proposed Family Boost childcare tax rebate in the upcoming Budget.

In today’s Bulletin

• Availability of 90-day trials extended
• Fiscal repair job underway
• First steps for tax and income relief announced
• Financial support for more displaced homeowners
• Five Employment Relations Authority cases 

If you have any questions, about this case or other employment relation matters, you can call the Advice Line team on 0800 800 362.

Ngā mihi
Your Business Central team