Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Anti-avoidance Legislation Costly and Won’t Work

Anti-avoidance Legislation Costly and Won’t Work

ACT Finance Spokesman Rodney Hide said today that the Government’s new anti-avoidance legislation was costly, unnecessary and wouldn’t work.
“Dr Cullen was warned when he rushed his tax-hike Bill through the House under urgency before Christmas that his legislation was deficient, that the policy was muddle-headed and that more legislation would be needed to patch it up.
“This is now the second piece of legislation announced attempting to fix the gaps in our tax base that the hike to 39 cents has made possible. The first was the five-percent withdrawal tax on super funds. We now have the Minister targeting trusts, companies and partnerships that as was predicted can be used to avoid his tax hike.
“The Minister’s response is dopey. It makes our tax laws even more costly and complicated. The new rules are easily got around.
“There’s no doubt there will be more legislation as Dr Cullen continues to attempt to plug the holes he has created.
“The mistake was to hike the top rate to 39 cents in the first place. That tax hike was unnecessary and very bad economically. It looks like the Minister of Revenue is now going to spend all his time attempting to plug the gaps instead of just admitting his mistake and going back to 33 cents,” concluded Rodney Hide.

ENDS



© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Sir Michael Cullen’s Tax Reform

To ordinary wage and salary earners who (a) watch a slice of their gross income being taxed every week via PAYE and who also (b) pay GST on every single thing they buy, there has been something quite surreal about the centre-right’s angry and anguished reactions to the Tax Working Group’s final report... More>>

 
 

89 Cents An Hour: Govt Plans Fix For Minimum Wage For People With Disabilities

IHC is delighted that the Government is looking into replacing the Minimum Wage Exemption (MWE) with a wage supplement to ensure people with disabilities are paid at least the minimum wage. More>>

ALSO:

Te Waihanga: New Independent Commission To Tackle Infrastructure Issues

The New Zealand Infrastructure Commission – Te Waihanga – will be established as an Autonomous Crown Entity to carry out two broad functions – strategy and planning and procurement and delivery support. More>>

ALSO:

Auckland Action Against Poverty: Motels Profit From Housing Crisis

A single motel which charges up to $1,500 per week per room has received over $3 million worth of Government funds to provide emergency assistance, despite never having a Code Compliance Certificate – an offence under the Building Act – and receiving a series of longstanding complaints from occupants... More>>

ALSO:

Gordon Campbell: On The Alleged China Relations Crisis

If New Zealand’s relations with China are ‘deteriorating’ then you still need a microscope to detect the signs... More>>

ALSO:

Environment: Government To End Tenure Review

“Tenure review has resulted in parcels of land being added to the conservation estate, but it has also resulted in more intensive farming and subdivision on the 353,000 ha of land which has been freeholded. This contributed to major landscape change and loss of habitat for native plants and animals,” said Eugenie Sage. More>>

ALSO:

Bell Tolls: Big Changes, Grand Mergers Planned For Vocational Training

“At a time when we’re facing critical skill shortages, too many of our polytechnics and institutes of technology are going broke... More>>

ALSO:

Sallies' State Of The Nation: Progress Stalled In Reducing Inequality

The report shows a lack of tangible progress in key areas including record levels of household debt and a growing gap in educational achievement between poorer and more well off communities. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels