Luxon and Willis hold post-Cabinet media conference ahead of Budget
The government's proposing tax changes it says will bring in more foreign investment, and make it easier for start-ups to attract and retain staff.
Pending the outcome of consultation, $65 million over the next four years will be set aside to change tax rules to encourage foreign investment.
Finance Minister Nicola Willis says New Zealand's current rules limit the amount of tax-deductible debt foreign investors can put into New Zealand, and while the rules are designed to prevent income being shifted offshore there's a risk they may be deterring investment.
$10 million will also be set aside to defer the tax liability of some employee share schemes.
Prime Minister Christopher Luxon speaking at post-cab
Photo:
RNZ / Angus Dreaver
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