On the 29th of March, the Taxation (Annual Rates for 2024−25, Emergency Response, and Remedial Measures) Bill received Royal assent, passing it into law. This includes the policy and remedial changes we have been preparing for as part of the April changes for 2025.
These changes have now taken effect, along with enhancements and other policy and remedial changes.
They include:
- exempt employee share scheme threshold change
- foreign tax credit and trust rules changes
- changes to cash-settled employee share schemes and ACC
- tax on extra pay when employment ends
- changes to payments related to health and safety, such as flu vaccinations
- changes to GST on listed services.
New and updated website content, guides and resources will be available on our website. Topic-based webinars are already available.
To help with the changes to GST on listed services, we have a new factsheet, Flat-rate credits and income tax - AD283. It provides detailed information for drivers, deliverers and accommodation owners on how to calculate deductible expenses under the new options. It also shows examples and appropriate methods for apportioning expenses for short-stay accommodation and ride-sharing.