Parliament

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

 

Dunne: Urgent measures to be added to tax bill

Hon Peter Dunne
Minister of Revenue


Tuesday, 24 November Media Statement

Dunne: Urgent measures to be added to taxation bill

Revenue Minister Peter Dunne today released a supplementary order paper that proposes the addition of urgent tax measures to the taxation bill that is nearing its final stages in Parliament.

GST on inbound tour package services
“One of the main additions to the tax bill is designed to resolve the long-standing uncertainty and debate that has surrounded the GST treatment of facilitation services for tour packages for overseas visitors to New Zealand,” Mr Dunne said.

“The proposed changes, which were announced earlier this year, clarify that the services in question are subject to GST at the standard rate of 12.5%.

“The legislation includes a transitional provision allowing inbound tour operators to zero-rate the services for the year to 1 July 2008, which will help to minimise any adverse effects on inbound tour operators, including those operators who did not zero-rate the services for that year, who will be able to claim refunds.

“Consultation on the changes has been completed only very recently and, given the lengthy history of this issue, it is very important that it be resolved as soon as practicable – hence the inclusion of the legislation in the Taxation (Consequential Rate Alignment and Remedial Matters) Bill.

Non-resident withholding tax rate reductions
“The second set of substantive additions to the bill is intended to prevent delays to the coming into force of new tax treaties with Australia, Singapore and the United States.

“The new treaties reduce the withholding tax on non-portfolio dividends paid to non-residents from 15% to either 5% or zero percent, depending on the circumstances.

“These reductions affect the supplementary dividend rules in the Income tax Act, which must be amended accordingly before these very important tax treaties can come into force.

Updating tax law to reflect superannuation portability
“The third group of substantial additions to the bill bring income tax law into line with recent changes to portability arrangements for New Zealand superannuation and the veteran’s pension.

“Accordingly, recipients of these pensions will remain subject to New Zealand tax while they are travelling overseas, but if they decided to live overseas the pensions will not be subject to New Zealand tax,” Mr Dunne said.

These and a number of minor technical amendments are proposed in Supplementary Order Paper No. 93 to the Taxation (Consequential Rate Alignment and Remedial Matters) Bill.

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Sending An Orion P-3 To Tonga


Because the undersea volcanic eruption in Tonga cut communications with the more remote parts of the country, it wasn’t at all surprising that as a good Pacific neighbour, New Zealand sent a reconnaissance aircraft up there to gather information about the extent and location of the damage. The more interesting thing was which plane we sent. It was an old P-3K Orion. It wasn’t one of the four fancy P-8 Poseidons that the New Zealand taxpayer spent north of $3 billion to purchase and to equip, only a few years ago...
More>>



 
 



Government: New Zealand Prepared To Send Support To Tonga

New Zealand is ready to assist Tonga in its recovery from Saturday night’s undersea eruption and tsunami, Foreign Affairs Minister Nanaia Mahuta and Defence Minister Peeni Henare said today... More>>


Ministry of Health: COVID-19 Immunisation Starts For 5 To 11-year-old Tāmariki

More than 120,000 doses of the child (paediatric) Pfizer vaccine have been delivered to over 500 vaccination sites around New Zealand as health providers prepare to start immunising 5 to 11-year-olds tamariki from today, 17 January... More>>


Crown: Duke Of York’s NZ Military Patronage Appointment Ends
Buckingham Palace has recently announced that, with the Queen's approval and agreement, the Duke of York’s military affiliations and Royal patronages have been returned to the Queen... More>>


CTU: Too Many Kiwi Workers Financially Vulnerable As Omicron Looms
With New Zealand on the precipice of an Omicron outbreak and the economic upheaval that comes with it, the CTU’s annual Mood of the Workforce Survey shows the vast majority of kiwi workers do not have the financial resources to survive a period of unemployment... More>>


Financial Advice NZ: Law Changes Locking Out Home Seekers, Urgent Meeting Sought With Government

Recent changes in consumer finance law on top of Government policy changes are locking many home seekers out of finance options they would have qualified for just six weeks ago, says Financial Advice New Zealand... More>>

Energy: Powering NZ’s Future With Biofuels
The Government will introduce a Sustainable Biofuels Mandate to help reduce greenhouse gas emissions in the transport sector, Energy and Resources Minister Megan Woods said today... More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels