9 June 2014
Job done for Rewrite Advisory Panel
Revenue Minister Todd McClay has announced that the Rewrite Advisory Panel is likely to have completed its work and will therefore be disestablished by the end of 2014.
Mr McClay says the Panel has achieved what it set out to do and would complete its work after considering final submissions.
“Over the years the Rewrite Advisory Panel has done a fantastic job to ensure our tax legislation remains consistent with the intention of drafting tax law that is clear enough for taxpayers to understand it,” Mr McClay says.
The Rewrite Advisory Panel comprises representatives from the New Zealand Institute of Chartered Accountants, the New Zealand Law Society, Inland Revenue, and an independent Chair.
The Panel was initially set up in 1995 to help with the progressive rewrite of New Zealand’s income tax law in plain-English. In 2004 the Panel’s role was extended to help deal with any unintended legislative consequences arising from the rewrite process.
“So far the Panel has completed 176 public submissions on unintended legislative changes, with approximately 80 per cent being recommended for legislative correction. A further 500 minor amendments have also been agreed to.”
“People who want their suggestions about unintended legislative changes to be considered by the Panel should submit them by 31 July 2014.”
Later submissions will be administered by Inland Revenue as part of its normal remedial tax work programme.
“I am grateful for the work of the Panel members, their current Chair, David McLay, and past Chairs Colin Blair and Sir Ivor Richardson, for providing an effective vehicle to deal with the remedial issues that have arisen as a result of the rewrite of tax law.
“Inland Revenue will be continuing its consultations with the New Zealand Institute of Chartered Accountants and the New Zealand Law Society on the best way to proceed with future submissions,” Mr McClay says.
Further information on the Rewrite Advisory Panel and its work can be found at www.rewriteadvisory.govt.nz.
Media contact: Hayden Cox 04 817 6991, 021 917339