Green Tax SOP Protects Funds For Kids From Violent Families

The Green Party will today be introducing a supplementary order paper on the Taxation (Beneficiary Income of Minors) Bill to protect money set aside for children exposed to domestic violence.

The Taxation Bill is designed to remove a long-term loophole which has allowed family income to be distributed to children to reduce tax payments. In the 1999 income year about 3,000 children under the age of six received beneficiary income exceeding $21 million.

The Green SOP, which has the support of the Government, will create an exception where a protection order is in place as a result of a violent family situation so that any money in trust for the benefit of children will continue to be taxed at the minor's tax rate.

"We support the intention of the bill to stop kids being used as a tax dodge but there are a small group of vulnerable children who are in a different situation and whose rights needed to be protected," said Green MP Rod Donald.

"These children have trusts set up in their name for genuine reasons such as where an abusive parent controls the family assets, and some assets are put aside for a child's future.

"In this case, it would be patently unfair for a child to have to pay the company tax rate because the income is clearly theirs.

"While the number of children involved is tiny, a much higher tax-rate would reduce their chances of a decent start in life. I'm therefore very pleased the Government has agreed to support my amendment," said Mr Donald.

Ends

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Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>