The Government has passed a taxation bill which included a late amendment to defer again long planned changes to the child support regime.
Revenue Minister Todd McClay said theTaxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Bill would bring make changes to the treatment of foreign superannuation schemes, introduce a new regime for the taxation of mining and bring “certainty” about the child support regime.
The bill, amongst other things, delays the planned reform of child support laws.
After already being delayed to the beginning of the coming tax year, Inland Revenue said late last year it was unable to implement the reforms then and they have been pushed back again for another 12 months. This bill was amended to allow for the delay to take place.
David Clark said Labour would support the bill with reservations. It reaffirmed the tax rates set in 2010 which had cut taxes unfairly for the benefit of the wealthy.
Clark said the winding back of the child support changes meant many people who had been preparing for the law change because it would have changed their income now would have to think again.
“The delay was entirely avoidable,” he said.
The bill passed its third reading by 119 to 1 with Mana opposed.
MPs began the second reading of the Border Processing (Trade Single Window and Duties) Bill and the debate was completed on a voice vote.
The first reading debate of the Building (Earthquake-prone Buildings) Amendment Bill was interrupted when the House rose at 6pm.
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