Supplementary Order Paper No 258

No 258

House of Representatives

Supplementary Order Paper

Wednesday, 8 February 2017

Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill

Proposed amendments

Hon Judith Collins, in Committee, to move the following amendments:

Clause 2

After clause 2(3B) (page 8, after line 14), insert:

(3C)

Sections 106, 112, 113, 115, 117, 118, 119, 120, 120B, and 120C are treated as coming into force on 5 February 2017.

In clause 2(4) (page 9, line 1), delete 11C, ”.

Clause 11C

Delete clause 11C (page 19, lines 32 to 36).

Clause 13

After new section 142H(6) (page 22, after line 38), insert:

(7)

The due date for payment of a penalty imposed under this section is the later of—

(a)

30 days after the date on which the Commissioner issues the notice of assessment for the penalty:

(b)

the date specified by the Commissioner in the notice of assessment as being the due date for payment of the penalty.

After new section 142I(4) (page 23, after line 40), insert:

(5)

The due date for payment of a penalty imposed under this section is the later of—

(a)

30 days after the date on which the Commissioner issues the notice of assessment for the penalty:

(b)

the date specified by the Commissioner in the notice of assessment as being the due date for payment of the penalty.

Clause 59

In clause 59(2), new section CX 17(4B)(b) (page 49, lines 33–34), replace “shareholder-employees” with “employees”.

Explanatory note

This Supplementary Order Paper (SOP) proposes minor technical amendments to the Taxation (Business Tax, Exchange of Information, and Remedial Matters) Bill (the Bill).

This SOP proposes a change to the commencement date of 4 groups of amendments in the Bill. The amendments are for the Inland Revenue’s new technology platform START. The change aligns the commencement date of the amendments and the start of the administration of GST in START, namely 5 February 2017.

Also, minor amendments are proposed to support the operation of the Automatic Exchange of Information (AEOI) rules in the Bill. The proposed amendments are clarifications in respect of due dates and challenge rights, to ensure that the AEOI penalty provisions work correctly.

The SOP also corrects a minor fault of expression in the Bill.

Departmental disclosure statement

Inland Revenue is required to prepare a disclosure statement to assist with the scrutiny of this SOP. The disclosure statement provides access to information about any material policy changes to the Bill and identifies any new significant or unusual legislative features of the Bill as amended.

Regulatory impact statement

Inland Revenue considers that a regulatory impact statement is not required to be prepared for this SOP.