New Zealand’s Parliament announced on 29 March 2025 that royal assent had been granted to Public Act No. 9/2025, a comprehensive omnibus tax law.

The Bill introduces several key provisions, including confirming annual income tax rates for the 2024-25 tax year, which include individuals, corporations, investments, trust and employer/retirement contribution taxes. Additionally, it implements the OECD’s Crypto-Asset Reporting Framework and updates the Common Reporting Standard to enhance compliance and transparency.

The Bill also clarifies the use of the cost method to calculate foreign investment fund (FIF) income and establishes a one-time information-sharing initiative with the Ministry of Business, Innovation, and Employment (MBIE) to promote the use of New Zealand Business Numbers (NZBN) among unincorporated entities.