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Inland Revenue

Tax Policy

Letter to the Minister of Finance

New Zealand coat of armsOffice of the

Consultative Committee on Full Imputation and International Tax Reform

PO Box 3724

30 June 1988

Hon R O Douglas
Minister of Finance
Parliament Buildings

Dear Mr Douglas

On behalf of the Consultative Committee on Full Imputation and International Tax Reform, I enclose the final report of the Committee. It covers matters which were outstanding after our first two reports and expands on the details of the regimes. The report is in two volumes. The first volume outlines the Committee's recommendations while the second contains the Committee's draft of the legislation covering both the international reforms and imputation.

When the details of tax reforms are developed, it is inevitable that minor changes need to be made to previous decisions and this has proved to be the case here. There are, however, no fundamental or significant changes. To a large extent, the recommendations in the present report merely cover the details necessary to implement the regimes approved in response to our earlier reports.

As was the case with our earlier reports, the recommendations in this report represent the unanimous views of Committee members.

We have been very ably assisted in the preparation of the draft legislation by Mr Graeme Smaill, Mr John Bassett and Mr Paul MacKay. The legislation has not been considered fully by officials or by parliamentary counsel but we consider that it is sufficiently well-developed for wider circulation and comment from interested parties and for introduction into the House.

The Committee is indebted to officials of the Treasury and Inland Revenue Department for their assistance. In particular, we thank Messrs Alex Duncan, David White, Ken Heaton, Peter Goss, Ross Judge and Mrs Jenny Whyte of the Treasury and Messrs Anthony Grace, Michael Rigby, John Moreno and Ms Jane Tait of the Inland Revenue Department.


Yours sincerely

Signature of Arthur Valabh, chairman of the Consulatative Committee.

Arthur Valabh