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 The Tax Working Group’s Road Map

Trying to analyse the interim report on the Tax Working Group (TWG) is like trying to review an entire All Blacks game, but at the half- time mark.

With so much still to be finalised, Sir Michael Cullen and his colleagues are going to need all the All Blacks’ fabled finishing skills to get a coherent, fiscally neutral package together by the February 2019 deadline. More>>

 

Meth Testing Report: Housing NZ "To Right Wrong"

Phil Twyford “Housing NZ acknowledges that around 800 tenants suffered by either losing their tenancies, losing their possessions, being suspended from the public housing waiting list, negative effects on their credit ratings or, in the worst cases, being made homeless.” More>>

ALSO:

No Reshuffle: Meka Whaitiri Removed As A Minister

Meka Whaitiri will be removed as a Minister with immediate effect... The decision was made after receiving a report into an incident that occurred on 27 August in Gisborne, involving Meka Whaitiri and one of her staff. More>>

ALSO:

Pay Equity Bill: Making History For Women’s Pay

The Equal Pay Amendment Bill, introduced to the House today, will make it easier for workers to make a pay equity claim , using a more simple and accessible process within New Zealand’s existing bargaining framework. More>>

ALSO:

Suffrage 125: NZ A Trailblazer For Women

“We acknowledge the work of Kate Sheppard, Meri Te Tai Mangakāhia, and all of the suffragists who tirelessly campaigned for the vote… Today we also need to ask each other: how we can continue to make our country a fairer and better place to continue the legacy of the suffragists.” More>>

ALSO:

Asylum: Refugee Quota Increasing To 1500

“The quota increase will take place from July 2020. In the meantime, we will work to increase the number and spread of refugee resettlement and support services. We need to make sure we’re prepared for this change in policy.” More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels