New tax rules put before Parliament
Revised tax rules for venture capital and a loophole on "sale and leaseback" deals and discounts for the newly self-employed formed a smorgasbord of tax changes introduced to Parliament yesterday.
Wednesday, March 31st 2004, 1:38AM
by The Landlord
Revenue Minister Michael Cullen said venture capital tax rules would be more closely aligned with those of Australia.
The move would enable New Zealand to better compete with Australia for venture capital, Dr Cullen said.
Foreign investors will be exempt from paying tax in New Zealand if they can not make use of tax credits in their own countries.
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