New Zealand's Budget 2017 was tabled in Parliament on 25 May 2017. The main tax related measures of the Budget include:
- Increasing the first and second individual income tax brackets from 1 April 2018 as follows:
- up to NZD 22,000 (increased from NZD 14,000) - 10.5%
- NZD 22,001 up to NZD 52,000 (increased from NZD 48,000) - 17.5%
- NZD 52,001 up to NZD 70,000 - 30%
- over NZD 70,000 - 33%
- Changing the tax treatment of feasibility expenditure currently treated as so-called black hole expenditure …