A tax bill tabled in Parliament yesterday will simplify tax filing requirements for individuals and support businesses in handling their tax obligations electronically, Revenue Minister Peter Dunne said.
Last year's public consultation showed strong support for giving people and the business sector more flexibility to use online and electronic media for managing tax, Dunne said.
The bill also contains a measure to ensure expenditure on software development is deductible if the software cannot be used and the project is abandoned.
"This is an important element in ensuring that tax law does not discourage or become an obstacle to investment and innovation," he said.
The bill also increases the KiwiSaver minimum contribution rates for employees and employers from April next year.
