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Inland Revenue

Tax Policy

PUBLISHED 12 March 2001

Bill reported back, reports on submissions released

The Finance and Expenditure Committee reported to Parliament late last week on the Taxation (Beneficiary Income of Minors, Services-related Payments and Remedial Matters) Bill.

Following its consideration of the bill, introduced in October, the committee has recommended several changes. They include amendments clarifying the proposed legislation on taxing trust distributions to minors, and additional amendments relating to the multi-rate fringe benefit tax rules. The amended bill, as reported from the committee, is available at Bennetts Government Bookshops.

Officials from the Policy Advice Division and the Treasury reported to the FEC on submissions on the bill in February. The two reports have now been released and are available here. For the main report see the Officials' Report 19 February 2001. For the report relating to the fringe benefit tax amendments, see Supplement to Officials' Report 22 February 2001.