LEG-19-MIN-0078 – Minute: Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Bill: Approval for release of Supplementary Order Paper

 

Date 11 June 2019
Reference LEG-19-MIN-0078
Document type Cabinet committee minute
Title Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Bill: Approval for release of Supplementary Order Paper
Downloads PDF (129 KB)
DOCX (42 KB) (note: extracted from the PDF, there may be some formatting differences)

This document contains information for the New Zealand Cabinet. It must be treated in confidence and handled in accordance with any security classification, or other endorsement. The information can only be released, including under the Official Information Act 1982, by persons with the appropriate authority.


Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Bill: Approval for Release of Supplementary Order Paper

Portfolio Revenue

On 11 June 2019, the Cabinet Legislation Committee:

1 noted that on 22 May 2019, the Cabinet Economic Development Committee (DEV) to improve property tax compliance and enforcement, agreed to remove an exemption from the requirement to provide a person’s IRD number or tax identification number (and jurisdiction of tax residence) when the transfer of property relates to the person’s main home
[DEV-19-MIN-0127];

2 noted that Cabinet has previously agreed to retain an indicator on the Land Transfer Tax Statement to identify where it is a person’s main home;

3 agreed that the main home indicator should apply to transfers by both natural persons and for transfers of property held in a trust;

4 noted that the attached Supplementary Order Paper (SOP) makes substantive, remedial and technical amendments to:

4.1 the Land Transfer Act 2017, to remove an exemption from the requirement to provide a person’s IRD number and, if applicable, any tax identification numbers and jurisdictions of tax residence;

4.2 the Income Tax Act 2007;

4.3 the Goods and Services Tax Act 1985.

5 approved the attached SOP for release [IRD 21621-2/1.12], subject to the final approval of the government caucuses and sufficient support in the House of Representatives;

6 authorised the Minister of Revenue to make minor amendments of a technical nature to the SOP in relation to the measures recommended in the paper under LEG-19-SUB-0078 without further reference to Cabinet;

7 agreed that the attached SOP should be released before the Committee of the whole House stage of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Bill, which is expected to occur between 18-20 June 2019.

Vivien Meek
Committee Secretary


Present:
Rt Hon Winston Peters
Hon David Parker
Hon Stuart Nash
Hon Iain Lees-Galloway (Chair)
Hon Jenny Salesa
Hon Tracey Martin
Hon Julie Ann Genter
Hon Eugenie Sage
Hon Ruth Dyson (Senior Government Whip)

Officials present from:
Office of the Prime Minister
Officials Committee for LEG

Hard-copy distribution:
Minister of Revenue