On 19 June 2014, New Zealand's Taxation Bill (Annual Rates, Employee Allowances, and Remedial Matters) passed its third and final parliamentary reading; the final stage before royal assent (signing into law). As previously reported, the bill was introduced to parliament on 22 November 2013 and includes several changes. The main changes include:
- Expanding the application of thin capitalization rules - applicable from the beginning of the 2015-2016 income year
- Enabling New Zealand financial in…