On 22 May 2008, the Minister of Finance presented the 2008/09 Budget. The highlight of this election year Budget is a reduction in personal income tax rates and additional benefits under the Working for Families tax credit scheme, amounting to NZD 11.7 billion. Changes in the area of business taxation include increases in a range of business tax thresholds and an announcement that the final proposals for the new international tax regime are to be released.
International taxat…