The New Zealand parliament approved the Taxation (Annual Rates for 2016-2017, Closely Held Companies, and Remedial Matters) Bill in its third reading on 23 March 2017. The Bill provides for a number of amendments, with some of the main changes summarized as follows.
Closely Held Companies
The Bill includes a number of changes to the look-through company (LTC) rules and the dividend rules as they apply to closely held companies. The changes are intended to simplify the rules to reduce comp…