Dairy Industry Restructuring Bill passed
The bill allowing regulatory and structural reform of the dairy industry passed through its final stages in Parliament today. The Dairy Industry Restructuring Bill, introduced in June, authorises the amalgamation of New Zealand's two largest dairy co-operatives and the later conversion of the New Zealand Dairy Board into a company. A forthcoming Tax Information Bulletin will explain the tax provisions in the bill, including the minor changes made by Parliament. For a description of the tax provisions in the bill as introduced, see our 19 June report, Dairy Industry Restructuring Bill.