![]() Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. The SOP also includes a number of remedial amendments to items in the bill, to give effect to the recommendations in the Finance and Expenditure Committee’s report back. Confirms the extension of tax deductibility for donated trading stock to 31 March 2024.Allow cash and quantifiable non-cash benefits totaling up to $5,000 to be paid to an affected employee without adverse tax consequences.Allow employers to provide temporary tax-free accommodation support payments to affected employees.Allow employer-provided accommodation to employees relocating to the affected areas to assist with the rebuild and recovery (as part of a project of limited duration) to be provided tax-free for a period of up to five years.The measures, included in a Supplementary Order Paper (SOP) to the bill: The government has added additional measures to the Taxation (Annual Rates for 2022-23, Platform Economy, and Remedial Matters) Bill (No 2) focused on providing tax relief for individuals and businesses affected by the North Island weather events Cyclone Hale between 8-12 January, the flooding events of 26 January to 3 February, and Cyclone Gabrielle between 12-16 February.
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