-
abusive process and absolutely what
we have
-
abusive process and absolutely what
we have come to expect
-
abusive process and absolutely what
we have come to expect
-
we have come to expect from this
government. On
-
we have come to expect from this
government. On
-
we have come to expect from this
government. On this side of
-
we have come to expect from this
government. On this side of
-
government. On this side of this
House, we oppose it.
-
government. On this side of this
House, we oppose it.
-
House, we oppose it.
-
Mr Speaker, it's a pleasure to rise
on
-
Mr Speaker, it's a pleasure to rise
on behalf of
-
Mr Speaker, it's a pleasure to rise
on behalf of
-
Mr Speaker, it's a pleasure to rise
on behalf of New
-
Mr Speaker, it's a pleasure to rise
on behalf of New Zealand
-
on behalf of New Zealand First. This
Government,
-
on behalf of New Zealand First. This
Government,
-
on behalf of New Zealand First. This
Government, especially in
-
on behalf of New Zealand First. This
Government, especially in
-
Government, especially in a timely
reply
-
Government, especially in a timely
reply
-
Government, especially in a timely
reply to that member's contribution.
-
Government, especially in a timely
reply to that member's contribution.
-
reply to that member's contribution.
This
-
reply to that member's contribution.
This
-
This Taxation (Annual Rates for
-
This Taxation (Annual Rates for
-
Income, and Remedial Matters) Bill.
I
-
Income, and Remedial Matters) Bill.
I want to
-
Income, and Remedial Matters) Bill.
I want to
-
Income, and Remedial Matters) Bill.
I want to take the opportunity,
-
Income, and Remedial Matters) Bill.
I want to take the opportunity,
-
I want to take the opportunity, Mr
Speaker, to
-
I want to take the opportunity, Mr
Speaker, to
-
Speaker, to address the contribution
from
-
Speaker, to address the contribution
from the
-
Speaker, to address the contribution
from the previous speaker. She
-
Speaker, to address the contribution
from the previous speaker. She
-
Speaker, to address the contribution
from the previous speaker. She spoke
-
from the previous speaker. She spoke
about
-
from the previous speaker. She spoke
about it
-
from the previous speaker. She spoke
about it being
-
from the previous speaker. She spoke
about it being a stealth Captial
-
about it being a stealth Captial
Gains
-
about it being a stealth Captial
Gains Tax.
-
about it being a stealth Captial
Gains Tax. What
-
about it being a stealth Captial
Gains Tax. What she
-
about it being a stealth Captial
Gains Tax. What she
-
Gains Tax. What she failed to ignore
that is
-
Gains Tax. What she failed to ignore
that is
-
Gains Tax. What she failed to ignore
that is that it was
-
Gains Tax. What she failed to ignore
that is that it was that
-
that is that it was that previous
party when they
-
that is that it was that previous
party when they
-
that is that it was that previous
party when they were in
-
that is that it was that previous
party when they were in
-
party when they were in government
that introduced what
-
party when they were in government
that introduced what
-
party when they were in government
that introduced what they
-
that introduced what they then
called at
-
that introduced what they then
called at
-
that introduced what they then
called at the
-
that introduced what they then
called at the time a
-
that introduced what they then
called at the time a
-
that introduced what they then
-
that introduced what they then
-
that test. It wasn't a Captial Gains
Tax
-
that test. It wasn't a Captial Gains
Tax then.
-
that test. It wasn't a Captial Gains
Tax then. No,
-
that test. It wasn't a Captial Gains
Tax then. No, when they
-
that test. It wasn't a Captial Gains
Tax then. No, when they
-
Tax then. No, when they introduced
it, it
-
Tax then. No, when they introduced
it, it
-
Tax then. No, when they introduced
it, it was a bright line
-
Tax then. No, when they introduced
it, it was a bright line
-
Tax then. No, when they introduced
it, it was a bright line test
-
Tax then. No, when they introduced
it, it was a bright line test and
-
Tax then. No, when they introduced
it, it was a bright line test and
-
it, it was a bright line test and
they vehemently
-
it, it was a bright line test and
they vehemently
-
it, it was a bright line test and
they vehemently denied any kind of
-
it, it was a bright line test and
they vehemently denied any kind of
-
they vehemently denied any kind of
argument that this is
-
they vehemently denied any kind of
argument that this is
-
argument that this is a Captial
Gains Tax.
-
argument that this is a Captial
Gains Tax. But
-
argument that this is a Captial
Gains Tax. But no, today that
-
argument that this is a Captial
Gains Tax. But no, today that
-
Gains Tax. But no, today that member
on
-
Gains Tax. But no, today that member
on
-
Gains Tax. But no, today that member
on behalf
-
Gains Tax. But no, today that member
on behalf of her
-
Gains Tax. But no, today that member
on behalf of her party
-
Gains Tax. But no, today that member
on behalf of her party spoke
-
Gains Tax. But no, today that member
on behalf of her party spoke
-
Gains Tax. But no, today that member
on behalf of her party spoke about
-
Gains Tax. But no, today that member
on behalf of her party spoke about a
-
Gains Tax. But no, today that member
on behalf of her party spoke about a
-
on behalf of her party spoke about a
new Captial Gains Tax,
-
on behalf of her party spoke about a
new Captial Gains Tax,
-
new Captial Gains Tax, despite the
evidence
-
new Captial Gains Tax, despite the
evidence sitting
-
new Captial Gains Tax, despite the
evidence sitting there for several
-
new Captial Gains Tax, despite the
evidence sitting there for several
-
evidence sitting there for several
years.
-
evidence sitting there for several
-
evidence sitting there for several
-
evidence sitting there for several
-
brought the legislation through.
This
-
brought the legislation through.
This was not new
-
brought the legislation through.
This was not new
-
This was not new and the minister
was
-
This was not new and the minister
was
-
This was not new and the minister
was pointed
-
This was not new and the minister
was pointed in
-
This was not new and the minister
was pointed in reminding the House
-
This was not new and the minister
was pointed in reminding the House
-
was pointed in reminding the House
and
-
was pointed in reminding the House
and the New Zealand
-
was pointed in reminding the House
and the New Zealand
-
was pointed in reminding the House
and the New Zealand Public that it
-
and the New Zealand Public that it
is
-
and the New Zealand Public that it
is only the time period
-
and the New Zealand Public that it
is only the time period
-
is only the time period that changed
under
-
is only the time period that changed
under
-
is only the time period that changed
under this legislation. Let's be
-
under this legislation. Let's be
very
-
under this legislation. Let's be
very clear.
-
under this legislation. Let's be
very clear. Nothing
-
under this legislation. Let's be
very clear. Nothing else
-
under this legislation. Let's be
very clear. Nothing else
-
under this legislation. Let's be
very clear. Nothing else in
-
under this legislation. Let's be
very clear. Nothing else in this
-
under this legislation. Let's be
very clear. Nothing else in this
-
under this legislation. Let's be
very clear. Nothing else in this SOP
-
very clear. Nothing else in this SOP
has changed apart from
-
very clear. Nothing else in this SOP
has changed apart from
-
has changed apart from the time
period in
-
has changed apart from the time
period in this
-
has changed apart from the time
period in this legislation.
-
has changed apart from the time
period in this legislation. We
-
period in this legislation. We are
extending that period.
-
period in this legislation. We are
extending that period. The
-
period in this legislation. We are
extending that period. The
-
period in this legislation. We are
extending that period. The previous
-
extending that period. The previous
speaker
-
extending that period. The previous
speaker
-
extending that period. The previous
speaker seemed
-
extending that period. The previous
speaker seemed to
-
extending that period. The previous
speaker seemed to
-
extending that period. The previous
speaker seemed to get her
-
extending that period. The previous
speaker seemed to get her
-
extending that period. The previous
speaker seemed to get her facts up,
-
speaker seemed to get her facts up,
a
-
speaker seemed to get her facts up,
-
speaker seemed to get her facts up,
-
confused. So the idea when they
introduced
-
confused. So the idea when they
-
confused. So the idea when they
-
confused. So the idea when they
-
the members opposite, the National
Party
-
the members opposite, the National
-
the members opposite, the National
-
the members opposite, the National
-
the members opposite, the National
-
introduced it this was to address
and
-
introduced it this was to address
and they acknowledged it at
-
introduced it this was to address
and they acknowledged it at
-
introduced it this was to address
and they acknowledged it at the time
-
introduced it this was to address
and they acknowledged it at the time
-
and they acknowledged it at the time
although there was no
-
and they acknowledged it at the time
although there was no
-
although there was no housing
crisis,
-
although there was no housing
crisis,
-
although there was no housing
crisis, the speculation in the
-
crisis, the speculation in the
market.
-
crisis, the speculation in the
market.
-
crisis, the speculation in the
market. The
-
crisis, the speculation in the
market. The National Party spoke
-
crisis, the speculation in the
market. The National Party spoke
-
market. The National Party spoke
about this bright
-
market. The National Party spoke
about this bright
-
about this bright line test
addressing
-
about this bright line test
addressing
-
about this bright line test
addressing speculation in the
-
about this bright line test
addressing speculation in the
-
addressing speculation in the
market. And yet the
-
addressing speculation in the
market. And yet the
-
addressing speculation in the
market. And yet the previous speaker
-
addressing speculation in the
market. And yet the previous speaker
-
market. And yet the previous speaker
gets
-
market. And yet the previous speaker
gets up and tells
-
market. And yet the previous speaker
gets up and tells
-
market. And yet the previous speaker
gets up and tells this House that
-
gets up and tells this House that
this
-
gets up and tells this House that
this will
-
gets up and tells this House that
this will not
-
gets up and tells this House that
this will not fix speculation, but
-
gets up and tells this House that
this will not fix speculation, but
-
this will not fix speculation, but
that's why
-
this will not fix speculation, but
that's why
-
that's why they introduced the
bright
-
that's why they introduced the
bright line
-
that's why they introduced the
bright line test in the first
-
that's why they introduced the
bright line test in the first place.
-
that's why they introduced the
bright line test in the first place.
-
bright line test in the first place.
She
-
bright line test in the first place.
She spoke
-
bright line test in the first place.
She spoke
-
bright line test in the first place.
She spoke about
-
bright line test in the first place.
She spoke about the
-
bright line test in the first place.
She spoke about the
-
bright line test in the first place.
She spoke about the select committee
-
bright line test in the first place.
She spoke about the select committee
-
She spoke about the select committee
process
-
She spoke about the select committee
process and officials
-
She spoke about the select committee
process and officials at
-
She spoke about the select committee
process and officials at the time,
-
She spoke about the select committee
process and officials at the time,
-
process and officials at the time,
sir,
-
process and officials at the time,
sir, spoke very
-
process and officials at the time,
sir, spoke very clearly
-
process and officials at the time,
sir, spoke very clearly and in
-
process and officials at the time,
sir, spoke very clearly and in
-
process and officials at the time,
sir, spoke very clearly and in their
-
sir, spoke very clearly and in their
report outlined why
-
sir, spoke very clearly and in their
report outlined why
-
sir, spoke very clearly and in their
report outlined why the
-
bright line test would not work. It
is
-
bright line test would not work. It
is in the report
-
bright line test would not work. It
is in the report
-
bright line test would not work. It
is in the report at the time. They
-
is in the report at the time. They
said
-
is in the report at the time. They
said it would not
-
is in the report at the time. They
said it would not
-
is in the report at the time. They
said it would not work, it would
-
is in the report at the time. They
said it would not work, it would
-
is in the report at the time. They
said it would not work, it would not
-
said it would not work, it would not
change behaviour and actually
-
said it would not work, it would not
change behaviour and actually on
-
change behaviour and actually on top
of all
-
change behaviour and actually on top
of all
-
change behaviour and actually on top
of all of that,
-
change behaviour and actually on top
of all of that,
-
change behaviour and actually on top
of all of that, no
-
of all of that, no extra revenue
would
-
of all of that, no extra revenue
would
-
of all of that, no extra revenue
would be collected
-
of all of that, no extra revenue
would be collected
-
would be collected by the Government
with
-
would be collected by the Government
with
-
would be collected by the Government
with with the
-
would be collected by the Government
with with the
-
would be collected by the Government
with with the introduction of the
-
would be collected by the Government
with with the introduction of the
-
with with the introduction of the
bright line test. Let's continue
-
with with the introduction of the
bright line test. Let's continue
-
bright line test. Let's continue to
call it a bright
-
bright line test. Let's continue to
call it a bright
-
call it a bright line test, shall
-
call it a bright line test, shall
-
call it a bright line test, shall
-
call it a bright line test, shall
-
officials have told us that in terms
of
-
officials have told us that in terms
of revenue collection there will be
-
officials have told us that in terms
of revenue collection there will be
-
of revenue collection there will be
a
-
of revenue collection there will be
a revenue
-
of revenue collection there will be
a revenue collection now,
-
of revenue collection there will be
a revenue collection now,
-
a revenue collection now,
-
a revenue collection now,
-
first two years rising over a period
of
-
first two years rising over a period
of time
-
first two years rising over a period
of time as
-
first two years rising over a period
of time as
-
first two years rising over a period
of time as about 2,000 transactions
-
first two years rising over a period
of time as about 2,000 transactions
-
of time as about 2,000 transactions
a quarter in this SOP,
-
of time as about 2,000 transactions
a quarter in this SOP,
-
a quarter in this SOP, this bright
line test.
-
a quarter in this SOP, this bright
line test. So
-
a quarter in this SOP, this bright
line test. So I
-
a quarter in this SOP, this bright
line test. So I
-
a quarter in this SOP, this bright
line test. So I put it to
-
a quarter in this SOP, this bright
line test. So I put it to that
-
line test. So I put it to that
member
-
line test. So I put it to that
member who
-
member who spoke previously, this
will
-
member who spoke previously, this
will
-
member who spoke previously, this
will address
-
member who spoke previously, this
will address the
-
member who spoke previously, this
will address the
-
member who spoke previously, this
will address the negative
-
member who spoke previously, this
will address the negative aspects
-
member who spoke previously, this
will address the negative aspects of
-
will address the negative aspects of
speculation. So
-
will address the negative aspects of
speculation. So
-
speculation. So when they introduced
it,
-
speculation. So when they introduced
it,
-
speculation. So when they introduced
it, they acknowledged
-
speculation. So when they introduced
it, they acknowledged
-
speculation. So when they introduced
it, they acknowledged that this
-
speculation. So when they introduced
it, they acknowledged that this
-
it, they acknowledged that this
won't affect investment.
-
it, they acknowledged that this
won't affect investment.
-
it, they acknowledged that this
won't affect investment. A good
-
it, they acknowledged that this
won't affect investment. A good
-
won't affect investment. A good
person
-
won't affect investment. A good
person who
-
won't affect investment. A good
person who wants to
-
won't affect investment. A good
person who wants to
-
person who wants to invest in
property
-
person who wants to invest in
property and
-
person who wants to invest in
property and have
-
person who wants to invest in
property and have
-
person who wants to invest in
property and have a rental property
-
person who wants to invest in
property and have a rental property
-
property and have a rental property
and rent
-
property and have a rental property
and rent
-
property and have a rental property
and rent it to New Zealanders
-
property and have a rental property
and rent it to New Zealanders
-
and rent it to New Zealanders is
building rental
-
and rent it to New Zealanders is
building rental
-
building rental capacity in the
market.
-
building rental capacity in the
market.
-
building rental capacity in the
market. Now, let's be very clear.
-
building rental capacity in the
market. Now, let's be very clear.
-
market. Now, let's be very clear.
This
-
market. Now, let's be very clear.
This is today, in
-
market. Now, let's be very clear.
This is today, in front
-
This is today, in front of the
people of
-
This is today, in front of the
people of this
-
This is today, in front of the
people of this House, that this will
-
This is today, in front of the
people of this House, that this will
-
people of this House, that this will
not change that.
-
people of this House, that this will
not change that. Investors
-
people of this House, that this will
not change that. Investors will
-
people of this House, that this will
not change that. Investors will
-
not change that. Investors will
continue to
-
not change that. Investors will
continue to
-
not change that. Investors will
continue to invest in
-
not change that. Investors will
continue to invest in
-
continue to invest in property
because they will
-
continue to invest in property
because they will not
-
continue to invest in property
because they will not be caught up
-
continue to invest in property
because they will not be caught up
-
because they will not be caught up
and the
-
because they will not be caught up
and the speculation
-
because they will not be caught up
and the speculation and flipping
-
and the speculation and flipping
nature
-
and the speculation and flipping
nature of
-
and the speculation and flipping
nature of the
-
and the speculation and flipping
nature of the current
-
and the speculation and flipping
nature of the current speculative
-
nature of the current speculative
property market happens.
-
nature of the current speculative
property market happens. So
-
property market happens. So good
people
-
property market happens. So good
people
-
property market happens. So good
people who want
-
property market happens. So good
people who want
-
property market happens. So good
people who want to invest will
-
property market happens. So good
people who want to invest will not
-
people who want to invest will not
be affected by this.
-
people who want to invest will not
be affected by this. Quite
-
be affected by this. Quite the
opposite.
-
be affected by this. Quite the
opposite. What
-
be affected by this. Quite the
opposite. What we will discourage
-
opposite. What we will discourage
will
-
opposite. What we will discourage
will be that flipping,
-
opposite. What we will discourage
will be that flipping,
-
opposite. What we will discourage
will be that flipping, so to buy
-
will be that flipping, so to buy
property
-
will be that flipping, so to buy
property at a price and
-
will be that flipping, so to buy
property at a price and flip
-
property at a price and flip it on
with extra
-
property at a price and flip it on
with extra
-
property at a price and flip it on
with extra costs. So
-
property at a price and flip it on
with extra costs. So
-
property at a price and flip it on
with extra costs. So it won't
-
property at a price and flip it on
with extra costs. So it won't
-
with extra costs. So it won't stop
it. People
-
with extra costs. So it won't stop
it. People can
-
with extra costs. So it won't stop
it. People can still do that
-
with extra costs. So it won't stop
it. People can still do that
-
with extra costs. So it won't stop
it. People can still do that if they
-
with extra costs. So it won't stop
it. People can still do that if they
-
it. People can still do that if they
wish and some
-
it. People can still do that if they
wish and some
-
it. People can still do that if they
wish and some of the confusion
-
it. People can still do that if they
wish and some of the confusion
-
wish and some of the confusion in
the
-
wish and some of the confusion in
the
-
the original submissions in the
select
-
the original submissions in the
select committee
-
the original submissions in the
select committee was around what the
-
the original submissions in the
select committee was around what the
-
select committee was around what the
tax was attached to.
-
select committee was around what the
tax was attached to.
-
select committee was around what the
tax was attached to. So just
-
select committee was around what the
tax was attached to. So just
-
tax was attached to. So just for the
purposes
-
tax was attached to. So just for the
purposes
-
tax was attached to. So just for the
purposes of the contribution today,
-
tax was attached to. So just for the
purposes of the contribution today,
-
purposes of the contribution today,
the tax was
-
purposes of the contribution today,
the tax was
-
purposes of the contribution today,
the tax was on the profit made.
-
purposes of the contribution today,
the tax was on the profit made. So
-
the tax was on the profit made. So
if you
-
the tax was on the profit made. So
if you
-
the tax was on the profit made. So
if you know, someone bought a
-
the tax was on the profit made. So
if you know, someone bought a
-
if you know, someone bought a
property on the Wednesday,
-
if you know, someone bought a
property on the Wednesday,
-
if you know, someone bought a
property on the Wednesday, flipped
-
property on the Wednesday, flipped
it
-
property on the Wednesday, flipped
it on a Friday,
-
property on the Wednesday, flipped
it on a Friday,
-
property on the Wednesday, flipped
-
property on the Wednesday, flipped
-
the entirety of the value of the
property.
-
the entirety of the value of the
property.
-
the entirety of the value of the
property. So
-
the entirety of the value of the
property. So I had a
-
the entirety of the value of the
property. So I had a
-
the entirety of the value of the
property. So I had a whole
-
the entirety of the value of the
property. So I had a whole other
-
the entirety of the value of the
property. So I had a whole other
-
property. So I had a whole other
contribution prepared
-
property. So I had a whole other
contribution prepared
-
property. So I had a whole other
contribution prepared but
-
property. So I had a whole other
contribution prepared but you
-
contribution prepared but you
-
contribution prepared but you
-
contribution prepared but you
-
contribution prepared but you
-
contribution prepared but you
-
contribution prepared but you
-
by that previous speaker, Mr
Speaker.
-
by that previous speaker, Mr
Speaker.
-
by that previous speaker, Mr
Speaker. So
-
by that previous speaker, Mr
Speaker. So this
-
by that previous speaker, Mr
Speaker. So this is
-
by that previous speaker, Mr
Speaker. So this is more than just
-
by that previous speaker, Mr
Speaker. So this is more than just
-
Speaker. So this is more than just
the SOP,
-
Speaker. So this is more than just
the SOP,
-
Speaker. So this is more than just
the SOP, so with the short
-
Speaker. So this is more than just
the SOP, so with the short
-
the SOP, so with the short time I
have, I will
-
the SOP, so with the short time I
have, I will
-
the SOP, so with the short time I
have, I will make the point
-
the SOP, so with the short time I
have, I will make the point
-
have, I will make the point that
ewith have,
-
have, I will make the point that
ewith have,
-
have, I will make the point that
ewith have, we're trying to
-
have, I will make the point that
ewith have, we're trying to address
-
ewith have, we're trying to address
four main issues here.
-
ewith have, we're trying to address
four main issues here. I
-
four main issues here. I think for
me
-
four main issues here. I think for
me one
-
four main issues here. I think for
me one of
-
four main issues here. I think for
me one of
-
four main issues here. I think for
me one of the biggest issues
-
four main issues here. I think for
me one of the biggest issues
-
four main issues here. I think for
me one of the biggest issues is
-
me one of the biggest issues is
around the
-
me one of the biggest issues is
around the
-
me one of the biggest issues is
around the Inland Revenue's
-
me one of the biggest issues is
around the Inland Revenue's
-
around the Inland Revenue's business
transformation process.
-
around the Inland Revenue's business
transformation process.
-
around the Inland Revenue's business
transformation process. So
-
around the Inland Revenue's business
transformation process. So the
-
around the Inland Revenue's business
transformation process. So the
-
transformation process. So the
previous government committed
-
transformation process. So the
previous government committed
-
previous government committed very
large sums
-
previous government committed very
large sums
-
previous government committed very
-
previous government committed very
-
previous government committed very
-
previous government committed very
-
Inland Revenue. Now, this government
has
-
Inland Revenue. Now, this government
has committed to
-
Inland Revenue. Now, this government
has committed to
-
Inland Revenue. Now, this government
has committed to that because
-
Inland Revenue. Now, this government
has committed to that because
-
has committed to that because we
will acknowledge it's
-
has committed to that because we
will acknowledge it's
-
will acknowledge it's the right
thing to do.
-
will acknowledge it's the right
thing to do.
-
will acknowledge it's the right
thing to do. We
-
will acknowledge it's the right
thing to do. We need to modernise
-
will acknowledge it's the right
thing to do. We need to modernise
-
thing to do. We need to modernise
the
-
thing to do. We need to modernise
the whole
-
thing to do. We need to modernise
the whole
-
thing to do. We need to modernise
the whole taxation process,
-
thing to do. We need to modernise
the whole taxation process, we
-
the whole taxation process, we need
to enable
-
the whole taxation process, we need
to enable
-
the whole taxation process, we need
to enable the good transacting
-
the whole taxation process, we need
to enable the good transacting
-
to enable the good transacting of
information
-
to enable the good transacting of
information in
-
to enable the good transacting of
information in a
-
to enable the good transacting of
information in a
-
information in a timely transparent
manner
-
information in a timely transparent
manner
-
information in a timely transparent
manner and that is
-
information in a timely transparent
manner and that is
-
information in a timely transparent
manner and that is what
-
information in a timely transparent
manner and that is what the
-
information in a timely transparent
manner and that is what the
-
manner and that is what the Inland
Revenue is trying
-
manner and that is what the Inland
Revenue is trying to
-
Revenue is trying to do with their
transformation
-
Revenue is trying to do with their
transformation
-
Revenue is trying to do with their
transformation process and what this
-
Revenue is trying to do with their
transformation process and what this
-
transformation process and what this
House is trying
-
transformation process and what this
House is trying to
-
transformation process and what this
House is trying to do with this
-
House is trying to do with this
remedial
-
House is trying to do with this
remedial matters bill.
-
House is trying to do with this
remedial matters bill. So
-
remedial matters bill. So we're
designing
-
remedial matters bill. So we're
designing
-
remedial matters bill. So we're
designing good policy so that
-
remedial matters bill. So we're
designing good policy so that
-
remedial matters bill. So we're
designing good policy so that the
-
designing good policy so that the
Inland
-
designing good policy so that the
Inland Revenue can work on
-
designing good policy so that the
Inland Revenue can work on good
-
Inland Revenue can work on good
practice. That
-
Inland Revenue can work on good
practice. That
-
Inland Revenue can work on good
practice. That is
-
Inland Revenue can work on good
practice. That is
-
Inland Revenue can work on good
practice. That is a dual combination
-
practice. That is a dual combination
that
-
practice. That is a dual combination
that is
-
practice. That is a dual combination
that is
-
practice. That is a dual combination
that is incredibly
-
that is incredibly important for the
people
-
that is incredibly important for the
people of
-
that is incredibly important for the
people of New Zealand
-
that is incredibly important for the
people of New Zealand who,
-
people of New Zealand who, when you
think about
-
people of New Zealand who, when you
think about it,
-
people of New Zealand who, when you
think about it, sir,
-
people of New Zealand who, when you
think about it, sir,
-
people of New Zealand who, when you
think about it, sir, it's a
-
people of New Zealand who, when you
think about it, sir, it's a
-
think about it, sir, it's a
continual struggle
-
think about it, sir, it's a
continual struggle
-
think about it, sir, it's a
continual struggle in terms of tax
-
think about it, sir, it's a
continual struggle in terms of tax
-
continual struggle in terms of tax
and compliance,
-
continual struggle in terms of tax
and compliance,
-
continual struggle in terms of tax
and compliance, yet it needs to be
-
continual struggle in terms of tax
and compliance, yet it needs to be
-
and compliance, yet it needs to be
fair and we need to
-
and compliance, yet it needs to be
fair and we need to
-
and compliance, yet it needs to be
fair and we need to be working in
-
and compliance, yet it needs to be
fair and we need to be working in
-
fair and we need to be working in
the best
-
fair and we need to be working in
the best
-
fair and we need to be working in
the best interests of
-
fair and we need to be working in
the best interests of
-
the best interests of New
Zealanders,
-
the best interests of New
Zealanders,
-
the best interests of New
Zealanders, but everyone needs
-
the best interests of New
Zealanders, but everyone needs
-
Zealanders, but everyone needs to
pay their
-
Zealanders, but everyone needs to
pay their
-
Zealanders, but everyone needs to
pay their way and
-
Zealanders, but everyone needs to
pay their way and
-
Zealanders, but everyone needs to
pay their way and so
-
Zealanders, but everyone needs to
pay their way and so this
-
pay their way and so this
transformation process enabled
-
pay their way and so this
transformation process enabled
-
transformation process enabled by
this legislation very
-
transformation process enabled by
this legislation very
-
this legislation very much does
that.
-
this legislation very much does
that. So
-
this legislation very much does
that. So in that,
-
this legislation very much does
that. So in that,
-
this legislation very much does
that. So in that, it is,
-
this legislation very much does
that. So in that, it is,
-
that. So in that, it is, it will be
a
-
that. So in that, it is, it will be
a success.
-
that. So in that, it is, it will be
a success.
-
that. So in that, it is, it will be
a success. So
-
that. So in that, it is, it will be
a success. So
-
that. So in that, it is, it will be
a success. So specifically,
-
a success. So specifically, we are
talking
-
a success. So specifically, we are
talking
-
a success. So specifically, we are
talking about
-
a success. So specifically, we are
talking about reforming
-
a success. So specifically, we are
talking about reforming
-
talking about reforming reforming
the
-
talking about reforming reforming
the
-
talking about reforming reforming
the administration
-
talking about reforming reforming
the administration of the PAYE
-
the administration of the PAYE
system
-
the administration of the PAYE
system and in particular the
-
the administration of the PAYE
system and in particular the
-
system and in particular the
provision of
-
system and in particular the
provision of
-
provision of employment income
information,
-
provision of employment income
information,
-
provision of employment income
information, and I
-
provision of employment income
information, and I
-
information, and I was going to
touch
-
information, and I was going to
touch on
-
information, and I was going to
touch on that in detail
-
information, and I was going to
touch on that in detail
-
touch on that in detail later on,
but I
-
touch on that in detail later on,
but I
-
touch on that in detail later on,
but I wanted
-
touch on that in detail later on,
but I wanted to acknowledge
-
touch on that in detail later on,
but I wanted to acknowledge the
-
but I wanted to acknowledge the
contribution the toing
-
but I wanted to acknowledge the
contribution the toing
-
but I wanted to acknowledge the
contribution the toing and froing
-
but I wanted to acknowledge the
contribution the toing and froing in
-
contribution the toing and froing in
select
-
contribution the toing and froing in
select committee,
-
contribution the toing and froing in
select committee, because there was
-
contribution the toing and froing in
select committee, because there was
-
select committee, because there was
a good
-
select committee, because there was
a good
-
select committee, because there was
a good level of debate
-
select committee, because there was
a good level of debate
-
select committee, because there was
a good level of debate about that
-
select committee, because there was
a good level of debate about that
-
a good level of debate about that
reporting period.
-
a good level of debate about that
reporting period. I
-
a good level of debate about that
reporting period. I acknowledge
-
a good level of debate about that
reporting period. I acknowledge
-
reporting period. I acknowledge the
National opposition
-
reporting period. I acknowledge the
National opposition
-
National opposition members on the
committee
-
National opposition members on the
committee
-
National opposition members on the
committee who were
-
National opposition members on the
committee who were
-
National opposition members on the
committee who were worried about
-
National opposition members on the
committee who were worried about
-
committee who were worried about
small business
-
committee who were worried about
small business
-
small business and compliance in
terms
-
small business and compliance in
terms
-
small business and compliance in
terms of reporting
-
small business and compliance in
terms of reporting
-
small business and compliance in
terms of reporting that PAYE
-
small business and compliance in
terms of reporting that PAYE
-
terms of reporting that PAYE
material. So
-
terms of reporting that PAYE
material. So
-
terms of reporting that PAYE
material. So there is
-
terms of reporting that PAYE
material. So there is now
-
material. So there is now
flexibility built
-
material. So there is now
flexibility built
-
material. So there is now
flexibility built into
-
flexibility built into this
legislation, so
-
flexibility built into this
legislation, so
-
flexibility built into this
legislation, so that
-
legislation, so that small
businesses are
-
legislation, so that small
businesses are
-
legislation, so that small
businesses are not caught
-
legislation, so that small
businesses are not caught
-
legislation, so that small
businesses are not caught up
-
legislation, so that small
businesses are not caught up unduly
-
businesses are not caught up unduly
and
-
businesses are not caught up unduly
and perhaps unfairly
-
businesses are not caught up unduly
and perhaps unfairly
-
businesses are not caught up unduly
and perhaps unfairly penalised
-
businesses are not caught up unduly
and perhaps unfairly penalised
-
businesses are not caught up unduly
and perhaps unfairly penalised for
-
and perhaps unfairly penalised for
-
and perhaps unfairly penalised for
-
and perhaps unfairly penalised for
-
and perhaps unfairly penalised for
-
a good, robust part of the debate.
The
-
a good, robust part of the debate.
The second part,
-
a good, robust part of the debate.
The second part,
-
a good, robust part of the debate.
The second part, sir, relates
-
a good, robust part of the debate.
The second part, sir, relates
-
The second part, sir, relates to the
collection
-
The second part, sir, relates to the
collection
-
collection of investment income
income.
-
collection of investment income
income.
-
income.
-
income.
-
The third part is changes to the
taxation
-
The third part is changes to the
taxation and employee
-
The third part is changes to the
taxation and employee shares
-
taxation and employee shares
schemes. I
-
taxation and employee shares
schemes. I
-
schemes. I acknowledge the minister
who
-
schemes. I acknowledge the minister
who touched
-
schemes. I acknowledge the minister
who touched on that. It's about
-
schemes. I acknowledge the minister
who touched on that. It's about
-
who touched on that. It's about
equity.
-
who touched on that. It's about
equity. So
-
who touched on that. It's about
equity. So essentially
-
who touched on that. It's about
equity. So essentially
-
who touched on that. It's about
equity. So essentially we don't
-
who touched on that. It's about
equity. So essentially we don't
-
equity. So essentially we don't want
businesses to be
-
equity. So essentially we don't want
businesses to be
-
equity. So essentially we don't want
businesses to be able to use the
-
equity. So essentially we don't want
businesses to be able to use the
-
businesses to be able to use the
share scheme of
-
businesses to be able to use the
share scheme of
-
businesses to be able to use the
share scheme of to offset
-
businesses to be able to use the
share scheme of to offset
-
share scheme of to offset tax
obligations in terms
-
share scheme of to offset tax
obligations in terms
-
share scheme of to offset tax
obligations in terms of
-
obligations in terms of remuneration
of employees
-
obligations in terms of remuneration
of employees
-
obligations in terms of remuneration
of employees and use that
-
obligations in terms of remuneration
of employees and use that
-
obligations in terms of remuneration
of employees and use that as a
-
obligations in terms of remuneration
of employees and use that as a
-
of employees and use that as a
method simply
-
of employees and use that as a
method simply
-
method simply for tax avoidence
purposes.
-
method simply for tax avoidence
purposes. So
-
method simply for tax avoidence
purposes. So here
-
method simply for tax avoidence
purposes. So here
-
method simply for tax avoidence
purposes. So here we are
-
method simply for tax avoidence
purposes. So here we are now
-
purposes. So here we are now
balancing the playing
-
purposes. So here we are now
balancing the playing field
-
purposes. So here we are now
balancing the playing field with
-
purposes. So here we are now
balancing the playing field with
-
balancing the playing field with
that and
-
balancing the playing field with
that and
-
balancing the playing field with
that and I'd like
-
balancing the playing field with
that and I'd like
-
balancing the playing field with
that and I'd like to say
-
balancing the playing field with
that and I'd like to say
-
that and I'd like to say that
business,
-
that and I'd like to say that
business,
-
that and I'd like to say that
business, when they
-
that and I'd like to say that
business, when they
-
that and I'd like to say that
business, when they made
-
that and I'd like to say that
business, when they made their
-
business, when they made their
submissions,
-
business, when they made their
submissions,
-
business, when they made their
submissions, everyone understood
-
submissions, everyone understood
whether
-
submissions, everyone understood
whether it was
-
submissions, everyone understood
whether it was
-
submissions, everyone understood
whether it was in the
-
submissions, everyone understood
whether it was in the
-
submissions, everyone understood
whether it was in the previous
-
whether it was in the previous
party's time in
-
whether it was in the previous
party's time in government
-
whether it was in the previous
party's time in government or
-
whether it was in the previous
party's time in government or
-
whether it was in the previous
party's time in government or the
-
recent discussions, understood the
intent
-
recent discussions, understood the
intent
-
recent discussions, understood the
intent there and what we
-
recent discussions, understood the
intent there and what we
-
recent discussions, understood the
intent there and what we were trying
-
recent discussions, understood the
intent there and what we were trying
-
intent there and what we were trying
to achieve. Business
-
intent there and what we were trying
to achieve. Business itself
-
to achieve. Business itself said
yes,
-
to achieve. Business itself said
yes,
-
to achieve. Business itself said
yes, slightly
-
to achieve. Business itself said
yes, slightly more
-
yes, slightly more complex and it
might
-
yes, slightly more complex and it
might put
-
yes, slightly more complex and it
might put a bit of pressure
-
yes, slightly more complex and it
might put a bit of pressure on
-
yes, slightly more complex and it
might put a bit of pressure on us,
-
yes, slightly more complex and it
might put a bit of pressure on us,
-
might put a bit of pressure on us,
but if you do it
-
might put a bit of pressure on us,
but if you do it
-
might put a bit of pressure on us,
but if you do it this way, we will
-
might put a bit of pressure on us,
but if you do it this way, we will
-
but if you do it this way, we will
be happy to report. So
-
but if you do it this way, we will
be happy to report. So
-
be happy to report. So what do you
-
be happy to report. So what do you
-
be happy to report. So what do you
-
be happy to report. So what do you
-
sir. The fourth part there was of
course
-
sir. The fourth part there was of
course the
-
sir. The fourth part there was of
course the
-
sir. The fourth part there was of
course the annual rates,
-
sir. The fourth part there was of
course the annual rates,
-
nothing changed from from the
previous
-
nothing changed from from the
previous year, so not
-
nothing changed from from the
previous year, so not much
-
previous year, so not much to be
said. The
-
previous year, so not much to be
said. The
-
previous year, so not much to be
said. The other was
-
previous year, so not much to be
said. The other was
-
previous year, so not much to be
said. The other was the
-
said. The other was the
Supplementary Order
-
said. The other was the
Supplementary Order Paper
-
said. The other was the
Supplementary Order Paper which
-
said. The other was the
Supplementary Order Paper which
-
Supplementary Order Paper which I
have
-
Supplementary Order Paper which I
have
-
Supplementary Order Paper which I
have touched on
-
Supplementary Order Paper which I
have touched on
-
have touched on in quite significant
amounts.
-
have touched on in quite significant
amounts. Unfortunately
-
have touched on in quite significant
amounts. Unfortunately I
-
have touched on in quite significant
amounts. Unfortunately I
-
have touched on in quite significant
amounts. Unfortunately I have
-
amounts. Unfortunately I have to
conclude
-
amounts. Unfortunately I have to
conclude but
-
amounts. Unfortunately I have to
conclude but I
-
amounts. Unfortunately I have to
conclude but I will
-
amounts. Unfortunately I have to
conclude but I will
-
conclude but I will say that is this
piece
-
conclude but I will say that is this
piece
-
conclude but I will say that is this
piece of legislation
-
conclude but I will say that is this
piece of legislation
-
conclude but I will say that is this
piece of legislation fits in with
-
conclude but I will say that is this
piece of legislation fits in with
-
piece of legislation fits in with
this government's
-
piece of legislation fits in with
this government's
-
piece of legislation fits in with
this government's intent to very
-
piece of legislation fits in with
this government's intent to very
-
this government's intent to very
much work smarter,
-
this government's intent to very
much work smarter,
-
this government's intent to very
much work smarter, not harder,
-
this government's intent to very
much work smarter, not harder,
-
much work smarter, not harder, to
make
-
much work smarter, not harder, to
make
-
much work smarter, not harder, to
make the whole
-
much work smarter, not harder, to
make the whole
-
much work smarter, not harder, to
make the whole process not only
-
much work smarter, not harder, to
make the whole process not only
-
much work smarter, not harder, to
make the whole process not only for
-
make the whole process not only for
the Inland Revenue
-
make the whole process not only for
the Inland Revenue
-
the Inland Revenue Department but
the
-
the Inland Revenue Department but
the people
-
the Inland Revenue Department but
the people of New Zealand
-
the Inland Revenue Department but
the people of New Zealand
-
the people of New Zealand who are
obliged to
-
the people of New Zealand who are
obliged to
-
the people of New Zealand who are
obliged to pay their
-
the people of New Zealand who are
obliged to pay their
-
the people of New Zealand who are
obliged to pay their taxes, to make
-
the people of New Zealand who are
obliged to pay their taxes, to make
-
obliged to pay their taxes, to make
that whole system
-
obliged to pay their taxes, to make
that whole system
-
obliged to pay their taxes, to make
that whole system more streamlined,
-
that whole system more streamlined,
easier,
-
that whole system more streamlined,
easier, let's avoid
-
that whole system more streamlined,
easier, let's avoid
-
easier, let's avoid mistakes and
let's
-
easier, let's avoid mistakes and
let's create
-
easier, let's avoid mistakes and
let's create a fair and transparent
-
let's create a fair and transparent
system.
-
let's create a fair and transparent
system. So thank you,
-
let's create a fair and transparent
system. So thank you,
-
let's create a fair and transparent
system. So thank you, Mr Speaker.
-
system. So thank you, Mr Speaker.
I
-
system. So thank you, Mr Speaker.
I call
-
system. So thank you, Mr Speaker.
I call
-
system. So thank you, Mr Speaker.
I call the Hon Judith
-
system. So thank you, Mr Speaker.
I call the Hon Judith
-
I call the Hon Judith Collins. Thank
you,
-
I call the Hon Judith Collins. Thank
you,
-
I call the Hon Judith Collins. Thank
you, Mr Speaker. I'm
-
I call the Hon Judith Collins. Thank
you, Mr Speaker. I'm
-
you, Mr Speaker. I'm a little bit
sad that
-
you, Mr Speaker. I'm a little bit
sad that
-
you, Mr Speaker. I'm a little bit
sad that we won't be
-
you, Mr Speaker. I'm a little bit
sad that we won't be
-
you, Mr Speaker. I'm a little bit
sad that we won't be able
-
sad that we won't be able to support
this
-
sad that we won't be able to support
this
-
sad that we won't be able to support
this bill because
-
sad that we won't be able to support
this bill because this
-
this bill because this was an
extremely good
-
this bill because this was an
extremely good
-
this bill because this was an
extremely good bill
-
this bill because this was an
extremely good bill based on
-
this bill because this was an
extremely good bill based on
-
this bill because this was an
extremely good bill based on not
-
extremely good bill based on not
only
-
extremely good bill based on not
only obviously the
-
extremely good bill based on not
only obviously the
-
extremely good bill based on not
only obviously the tax rates which
-
extremely good bill based on not
only obviously the tax rates which
-
only obviously the tax rates which
are somewhat historical,
-
only obviously the tax rates which
are somewhat historical,
-
only obviously the tax rates which
are somewhat historical, but
-
only obviously the tax rates which
are somewhat historical, but really
-
are somewhat historical, but really
around
-
are somewhat historical, but really
around
-
are somewhat historical, but really
around the
-
are somewhat historical, but really
around the fabulous business
-
are somewhat historical, but really
around the fabulous business
-
around the fabulous business
transformation
-
around the fabulous business
transformation project
-
around the fabulous business
transformation project that the
-
around the fabulous business
transformation project that the
-
transformation project that the
-
transformation project that the
-
transformation project that the
-
funded, and worked for the Inland
Revenue
