5 April 2001

Media release - Finance and Expenditure Committee

Taxation (Annual Rates, Taxpayer Assessment and Miscellaneous Provisions) Bill

The Finance and Expenditure Committee is inviting public submissions on the Taxation (Annual Rates, Taxpayer Assessment and Miscellaneous Provisions) Bill. The closing date for submissions is 11 May 2001.

Research and development expenditure will qualify for an immediate tax deduction from 1 April, this year.

The Taxation (Annual Rates, Taxpayer Assessment and Miscellaneous Provisions) Bill sets the new annual rates of Income Tax for 2001-2002. The bill also makes amendments relating to self-assessment, unit-holder continuity, transfer of deductible expenses, attribution rule and donee organisation. The bill makes amendments to other Inland Revenue Acts, these include amendments relating to zero-rating on supplies to visiting foreign based pleasure craft, gifts of financial arrangements and imputation streaming. A number of consequential amendments are also made.

Copies of the bill can be purchased from Bennetts Government Bookshops.

The committee requires 25 copies of each submission. Those wishing to include any information of a private or personal nature in a submission should first discuss this with the clerk of the committee, as submissions are usually released to the public by the committee. Those wishing to appear before the committee to speak to their submissions should state this clearly and provide a daytime telephone contact number. For further guidance on making a submission, our publication Making a Submission to a Parliamentary Select Committee can be found on our web site at www.clerk.parliament.govt.nz.

Submissions should be addressed as follows:

Matthew Andrews
Finance and Expenditure Committee Secretariat
Parliament House
WELLINGTON

matthew.andrews@parliament.govt.nz

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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>>