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Taxation (Base Maintenance and Miscellaneous Provisions) Bill (Consistent) [2004] NZBORARp 38 (2 November 2004)

Last Updated: 23 March 2021

Taxation (Base Maintenance and Miscellaneous Provisions) Bill

2 November 2004

Attorney-General

LEGAL ADVICE
CONSISTENCY WITH THE NEW ZEALAND BILL OF RIGHTS ACT 1990:
Taxation (Base Maintenance and Miscellaneous Provisions) Bill

1. We have considered whether the Taxation (Base Maintenance and Miscellaneous Provisions) Bill (the "Bill") (IRD041029/1) is consistent with the New Zealand Bill of Rights Act 1990 (the "Bill of Rights Act"). We understand that the Bill will be considered by the Cabinet Legislation Committee at its meeting on Thursday, 11 November 2004.
2. We have concluded that the Bill appears to be consistent with the Bill of Rights Act.
3. The Bill would make several changes to current taxation laws contained in the Income Tax Act 1994, Income Tax Act 2004, Tax Administration Act 1994, and the Goods and Services Tax Act 1985. Examples of significant changes contained in the Bill include amendments to:
   • limit the extent to which foreign banks can debt fund their New Zealand operations, and their offshore investments out of New Zealand;
   • exempt from tax non-resident companies with drilling rigs and seismic ships involved in exploration of offshore oil or gas fields;
   • address concerns raised about tax deductions available for business environmental expenditure;
   • revise the generic rules about tax treatment of transfers of assets following a taxpayer’s death;
   • enable disclosure of pertinent information for purposes of Parental Leave and Employment Protection Act 1987; and
   • clarify the non-disclosure right for tax advice.

Some of these amendments have retrospective effect. However, any retrospectivity is benign in effect.

4. In accordance with your instructions, we attach a copy of this opinion for referral to the Minister of Justice. A copy is also attached for referral to the Minister of Finance, if you agree.

cc Minister of Justice
Minister of Finance

In addition to the general disclaimer for all documents on this website, please note the following: This advice was prepared to assist the Attorney-General to determine whether a report should be made to Parliament under s 7 of the New Zealand Bill of Rights Act 1990 in relation to the Taxation (Base Maintenance and Miscellaneous Provisions) Bill. It should not be used or acted upon for any other purpose. The advice does no more than assess whether the Bill complies with the minimum guarantees contained in the New Zealand Bill of Rights Act. The release of this advice should not be taken to indicate that the Attorney-General agrees with all aspects of it, nor does its release constitute a general waiver of legal professional privilege in respect of this or any other matter. Whilst care has been taken to ensure that this document is an accurate reproduction of the advice provided to the Attorney-General, neither the Ministry of Justice nor the Crown Law Office accepts any liability for any errors or omissions.