Goods and Services Tax Act 1985
The Goods and Services Tax Act is an Act of Parliament passed in New Zealand in 1985.
| Goods and Services Tax Act | |
|---|---|
 | |
| New Zealand Parliament | |
| Status: Current legislation |
The Act established a consumption tax in New Zealand, originally set at 10%, but subsequently raised to 15%. GST is a tax of 15% on all goods, services and other items sold or consumed in New Zealand. Individuals become liable to pay GST when their annual turnover exceeds NZ$60,000 in any 12-month period.[1]
References
- "Comparing New Zealand and Australia's goods and services tax (GST) systems (Australia and New Zealand)". Inland Revenue. Retrieved 11 May 2020.
External links
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.