New Zealand Budget 2017 Includes Changes in the Individual Income Tax Brackets and Treatment of Feasibility Expenditure

New Zealand's Budget 2017 was tabled in Parliament on 25 May 2017. The main tax related measures of the Budget include:

• Increasing the first and second individual income tax brackets from 1 April 2018 as follows:
  • up to NZD 22,000 (increased from NZD 14,000) - 10.5%
  • NZD 22,001 up to NZD 52,000 (increased from NZD 48,000) - 17.5%
  • NZD 52,001 up to NZD 70,000 - 30%
  • over NZD 70,000 - 33%
• Changing the tax treatment of feasibility expenditure currently treated as so-called black hole expenditure …