The Taxation (International Investment and Remedial Matters) Bill was reported with amendment.
The main aim of this Bill is to reform the way in which the Income Tax Act 2007 applies to gains of New Zealand
residents from income interests in overseas entities.
The House continued in committee to consider all parts of the Customs and Excise (Joint Border Management Information Sharing and Other Matters) Amendment Bill as one debate.
This an omnibus Bill amending the Customs and Excise Act 1996 and the Biosecurity Act 1993, to enable border agencies to
share information, changes the thresholds and processes for administrative and petty offence provisions of the Customs
and Excise Act, and amend the Act in order to address new situations which have arisen since it was passed
Most MPs spoke in favour of the bill though Labour MPs warned that cost-cutting of border security would lead to
biosecurity disasters in the near future.
At the end of the debate Labour’s Shadow Leader of the House Trevor Mallard took exception to National moving a closure
motion saying that it was unlikely that leave would be granted in the future to consider all parts of a bill in one
debate.
A vote on the bill’s progress was passed by 119 votes to one with one Labour MP (presumably Mallard registering his
disapproval).
There then followed a series of points of order and the recall of the Speaker over procedural issues delaying the House
rising until 10.05 pm when the committee reported progress on the bill.
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