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


National’s solution so Nash can pay back the cash

National has come up with a solution so taxpayers can keep their own money after Revenue Minister Stuart Nash tried to short change them, National’s Revenue spokesperson Andrew Bayly says.

“In 2018 the Government was warned default KiwiSaver account holders had already overpaid tax to the tune of $70 million on their investment (PIE) income.

“New Zealanders shouldn’t pay any more tax than necessary. This especially impacts those New Zealanders on low incomes, the Kiwis that just cannot afford to be paying more tax than they should be. We want to ensure they get their refund.

“Historically refunds were not made because the system couldn’t cope with them, however the new Inland Revenue IT system doesn’t have this restriction.

“Under the PIE arrangement, tax is deducted at a maximum of 28 per cent. Some taxpayers have been paying much less than they should have while others have paid much more.

“For those who’ve underpaid, the Minister has chosen to go back to the year from 1 April 2018 and ask them to stump up tax to the tune of almost $50 million. A similar amount will be paid in the 2019/20 financial year.

“Some couples will be in the situation where one half may have to pay back money to Inland Revenue but the other half isn’t entitled to their refund. How is that fair?

“The Minister knows a change of legislation is needed so taxpayers can be refunded what they’re owed. When I asked him repeatedly about it, he claimed it was an operational matter for Inland Revenue and then said it required a legislative change.

“National believes New Zealanders shouldn’t have to pay more tax than necessary. That’s why I’ve drafted a Supplementary Order Paper (SOP) which will allow Mr Nash to make these changes in Parliament.

“I intend to table this as soon as the House resumes and I encourage Mr Nash to do the right thing so that New Zealanders can be paid back the money that belongs to them.

“There’s a principle with tax that you pay your fair share. Inland Revenue is also duty bound to refund any overpayment of tax.

“This is a tight-fisted Tax Minister who wants to take with one hand but not give back with the other. I’ve done all of the work for him, he now needs to do the right thing.”

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Compensating Afghan Civilian Casualties

Reportedly, there have been nine incidents resulting in 17 civilian deaths and injuries (seven of the dead were children) caused by ordnance left behind on what used to be the firing range of our Provincial Reconstruction Team (PRT) in Bamiyan province.

Given that the NZ Defence Force has needed to be hauled kicking and screaming into belatedly arranging an adequate clean-up of its old firing range… what would it take before New Zealand offers to pay compensation to the families of those who suffered death and injury from what was left behind on our watch? More>>


Children's Day: Commissioner Calls For Govt Commitment

“Three decades on, we are able to celebrate some significant changes for children like the recent launch of a Child and Youth Wellbeing Strategy. But we still have a long way to go to prioritise children’s rights.” More>>


Elections: Proposed Electorate Boundaries Released

The Representation Commission is proposing changes to half of New Zealand’s electorates and establishing a new electorate in south Auckland… More>>


"Effectively A Permanent Amnesty": Final Month For Gun Ban Compensation

The firearms buy-back comes to an end a month from today, but the police say the amnesty for returning banned guns will continue into next year and beyond. More>>



Overseas Investment Rules: New National Interest Test

The Government is delivering on its promise to protect New Zealanders’ interests by applying a new national interest test to the sales of our most sensitive and high risk assets to overseas buyers... More>>


Matter Of Trust: Peters Says NZ First Loans Legal

"Allegations raised this morning by Stuff Limited / Fairfax concern a party matter but I am confident that New Zealand First has operated within electoral laws, now and for the last 27 years." More>>



Gordon Campbell: On Labour’s Age Problem, And The Port Hills

Labour has been steadily improving its gender balance to the point where there are now 21 women in its caucus out of 46 MPs in all... Yet Labour has been just as steadily losing the generational battle to the Greens. More>>


Charles & Camilla: Visit Takes Royals From Waitangi To Christchurch

Domestic violence services, conservation and education are all on the list for the royal tour. The Prince of Wales and the Duchess of Cornwall will spend a week travelling the country from Waitangi to Christchurch. More>>





InfoPages News Channels