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


Nats call for re-opening of tax bill submissions

Hon Lockwood Smith MP
National Party Revenue Spokesman
Craig Foss MP
National Party Associate Finance Spokesman
28 September 2006

Nats call for re-opening of submissions on tax bill

National agrees that submissions to the Government’s tax bill should be re-opened following the announcement of a major rethink in the way overseas share investments are taxed.

National Revenue spokesman Lockwood Smith says the public should have the chance to resubmit on the bill before the Finance and Expenditure Select Committee following the joint press statement from Michael Cullen and Peter Dunne released on 15 September.

“There were nearly 4,000 submissions on the original tax bill, which proposed a capital gains tax on unrealised gains from overseas share investments,” says Dr Smith.

“Those submissions are still being heard, but against a background of major changes in the treatment of overseas share investments being floated by Dr Cullen and Mr Dunne.

“As one submitter has told the committee: ‘we cannot have legislation by media release’.

“Most of the nearly 4,000 submissions opposed the original capital gains tax plan. Submitters must now be given the chance to have their voices heard on the new proposals. However, the committee has yet to see a supplementary order paper or any other detail of the new proposal,” says Dr Smith.

Committee member and National Associate Finance spokesman Craig Foss says National will be writing to the Select Committee chairman asking that submissions be re-opened.

“We have suspicions that the new proposal is a capital gains tax in disguise. The committee and the public deserve to know the details of what’s being mooted,” says Mr Foss.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: on the inquiry into the abuse of children in care

Apparently, PM Jacinda Ardern has chosen to exclude faith-based institutions from the government’s promised inquiry into the abuse of children in state care.

Any role for religious institutions – eg the Catholic Church – would be only to observe and to learn from any revelations that arise from the inquiry’s self-limiting focus on state-run institutions… More


Gordon Campbell: On Jim Anderton
For anyone born after 1975, it is hard to grasp just how important a figure Jim Anderton was, for an entire generation.
During the mid to late 1980s, Anderton was the only significant public figure of resistance to the Labour government’s headlong embrace of Thatcherism...More>>


Gong Time: New Year's Honours List

Jacinda Ardern today congratulated the 179 New Zealanders named on the 2018 New Year’s Honours List.

“Although this list was compiled and completed by the last government, it is a pleasure to welcome in the New Year by recognising exceptional New Zealanders,” Jacinda Ardern said.

“As an Aunty, I love reading books to my nieces, so it’s lovely to congratulate Joy Cowley, who is made a member of the Order of New Zealand today....More
Full list

Roads: National launches bid to save highway projects

The National Party has launched a series of petitions aimed at saving regional highway projects at risk because of the Government’s obsession with Auckland trams…More>>


Medical Cannabis: Bill Introduced to “ease suffering”

Health Minister Dr David Clark says making medicinal cannabis more readily available will help relieve the suffering of people who are dying in pain More>>


Campbell: On The Quest For Zero Net Carbon Emissions
Some would querulously ask, zero net carbon emissions by 2050 – while others would say, why not?


CPAG Report: The Further Fraying Of The Welfare Safety Net

New Zealand’s welfare system has undergone a major transformation during the past three decades. This process has seriously thwarted the original intent of the system, which was to provide a decent standard of living for all New Zealanders in times of need... More>>





Featured InfoPages