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On 18 October 2018 the Minister of Revenue, Stuart Nash, announced the Government will introduce a tax bill with the changes expecting to come into effect from 1 October 2019. From 1 October 2019 it is proposed:
The table below summarises the changes for the different parties.
Note that the table only reflects how the proposed rules would work in the majority of cases and actual results may differ in some instances.
Impact on consumers