Budget 2023: summary of key announcements

The Government has delivered an election year budget which they believe addresses some of the high cost of living pressures facing most New Zealanders, whilst not feeding further inflationary pressures.

How this is ultimately received, will be determined on 14th October 2023.

A snapshot of the Budget is outlined below, however the most significant announcement for businesses, is the increase in the trustee tax rate to 39% from 1 April 2024.

Budget 2023 Snapshot

If you would prefer a PDF version please view this here Budget 2023 – Snapshot – Nexia NZ

If any of these announcements will impact on your plans for the coming year, please contact your Nexia advisor to discuss this in more detail.

For further information please visit the Budget 2023 website.