Finance (Covid-19 and Miscellaneous Provisions) Bill 2021

Public bill · Government · Presented

Keeps key Covid-19 business supports running for longer: the wage subsidy scheme is extended to the end of 2021, the business restrictions support scheme is extended to 30 September 2021, and some businesses reopening after restrictions get extra “restart week” payments. It also extends the 9% VAT rate for hospitality, entertainment, hairdressing and certain printed goods to 31 August 2022, lets employers spread repayment of some Covid-related tax debts over time, and introduces a new support payment for hard-hit businesses. It also raises stamp duty to 10% on bulk purchases of 10 or more houses or duplexes, to discourage large-scale buying of residential units, while exempting certain social housing arrangements.

Formal long title

Bill entitled an Act to provide for the imposition, repeal, remission, alteration and regulation of taxation and of stamp duties; to otherwise make further provision in connection with finance; to make provision for supports to employers and certain businesses; for that purpose to amend Part 7 of the Emergency Measures in the Public Interest (Covid-19) Act 2020 and other enactments; and to provide for related matters.

Last updated 11 September 2024