Public Finance Amendment Bill
This bill updates the rules about how the New Zealand Government manages and reports on public money. It requires the Government to publish a new annual statement listing tax exemptions and special tax rules, and what they cost. It extends the time period for some financial forecasts. It removes the requirement for the Government to report on 'wellbeing objectives' in its budget documents. It also tidies up reporting rules for government departments and agencies, including spy agencies.
What this affects
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The Government will have to publish a list every year showing all special tax breaks and exemptions, including how much each one costs the public purse.
The Minister must present to the House of Representatives a tax expenditure statement prepared by the Treasury for each financial year.
the tax expenditure statement must include, for each tax expenditure,— (a) a description of the tax expenditure; and (b) the legislative provision that authorises the tax expenditure; and (c) the estimated value of the tax expenditure, where it is reasonably feasible to estimate
In section 26P(1), replace '3' with '5'.
In section 26Q(1), replace '3' with '5'.
Progress through Parliament
Have your say
This bill is open for public submissions to the Finance and Expenditure Committee. Anyone can tell the committee what they think, and you don’t need to be an expert. Submissions close 6 July 2025.
Bill text sourced from legislation.govt.nz (Parliamentary Counsel Office). Arapono’s summary and breakdown are drafted with AI grounded in that official text and reviewed by an Arapono editor for accuracy and neutrality before publishing. Arapono is non-partisan and takes no position on this bill.