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Taxation (Annual Rates for 2016-17, Closely-Held Companies, and Remedial Matters) Bill (Consistent) [2016] NZBORARp 9 (30 March 2016)

Last Updated: 11 January 2019

30 March 2016

_{Hon Christopher Finlayson QC, Attorney-General}

LEGAL ADVICE

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Consistency with the New Zealand Bill of Rights Act 1990: Taxation (Annual Rates for 2016–17, Closely-Held Companies, and Remedial Matters) Bill

1. We have considered whether the Taxation (Annual Rates for 2016–17, Closely-Held Companies, and Remedial Matters) Bill (‘the Bill’) is consistent with the rights and freedoms affirmed in the New Zealand Bill of Rights Act 1990 (‘the Bill of Rights Act’).

2. The Bill is aimed at improving the current tax settings within a broad-base, low rate framework. Under this framework, the tax treatment of alternative forms of income and expenditure is intended to be as even as possible. This ensures that overall tax rates can be kept low, while also minimising the biases that taxation introduces into economic decisions.

3. This taxation omnibus Bill introduces amendments to the following enactments:

• Income Tax Act 2007

• Goods and Services Tax Act 1985

• Tax Administration Act 1994

• Student Loans Scheme Act 2011

• Stamp and Cheque Duties Act 1971

• Income Tax Act 2004

• Goods and Services Tax (Grants and Subsidies) Order 1992.

4. We have concluded that the Bill appears to be consistent with the rights and freedoms affirmed in the Bill of Rights Act.

Jeff Orr

Chief Legal Counsel

Office of Legal Counsel