Tisch Lindsay: Taxation (Annual Rates Maori Organisations Taxpayer Compliance and Miscellaneous Provisions) Bill — Instruction to Committee In Committee 
Tisch Lindsay: Taxation (Annual Rates Maori Organisations Taxpayer Compliance and Miscellaneous Provisions) Bill — Instruction to Committee In Committee 
[Volume:606;Page:4093] 
LINDSAY TISCH (NZ National—Piako) 
: 
 Maybe the banter could stop so that I can make some important points about the title of this bill. I reiterate as Dr the Hon Lockwood Smith the Hon Tony Ryall and Pansy Wong—who has been on the Commerce Committee is an accountant and has a very good understanding of these issues—have pointed out this bill does cover a number of underlying issues. One might say that that is OK as this title is one of the few that actually state quite a lot. It is quite a long title but it does not cover the underlying issues in the bill. The title refers to taxation annual rates Maori organisations taxpayer compliance and miscellaneous provisions. But that is really just a cover-up because it does not spell out what is in the bill. That is the important point that I will articulate this afternoon. 
One of the important issues here—and this has been mentioned before but it is important that members are fully aware of it—is that the bill gives a preferential tax rate of 19.5c in the dollar to a special group which is Maori. So the title of this bill should be the “Special Maori Taxation Bill” or the “Special Provisions for Maori Taxation Bill”. A number of interpretations can be made of the current title. When I buy a book I want to know what is in it. I do not just want to know what the title is; I want to know what the book is actually about. As previous speakers have said this title is a cover-up for what is really in the bill. This bill gives preferential treatment to one sector of the community. [ 
Interruption 
] That member had a chance to speak but he strayed off the topic. I am referring to the title. We have a provision here whereby a tax rate of 19.5c in the dollar will become the norm. 
When the Minister spoke earlier he said we have had double taxation. I remind the Minister—and I invite him to take a call—that the taxation provision applies only when profits have been retained and have not been distributed at the 4-year peg. That is where double taxation has come in. As my honourable friend has said that is why the title of this bill needs to be changed. 
The other point is that this legislation confers taxation rates on an annual basis. It provides that we will have the highest taxation in the OECD group of countries. This is the only Government that has increased taxation. 
Dr the Hon Lockwood Smith 
: The Czech Republic. 
LINDSAY TISCH 
: My friend mentions the Czech Republic. This bill is about taxation. We are the only country in the OECD group of countries that has increased taxation. 
Hon Tony Ryall 
: Unbelievable. 
LINDSAY TISCH 
: It is unbelievable. It is absolutely draconian. This Government has no idea about what makes the world go round and no idea about business. It has increased the tax rate to 39 percent for those on incomes of $60000. That is why the title of the bill must be changed: it has to reflect the increases in taxation. 
As I said the title is just a cover-up. It does not indicate what is in this bill. What about the corporate tax rate of 33 percent? What does this bill provide? It provides that a Maori authority will have a 19.5 percent tax rate. Does it indicate to my friend Pansy Wong from the Asian community that if she is in business she will receive a preferential tax rate of 19.5 percent? It does not do that. I am in business. Does the bill indicate that I can have a preferential tax rate of 19.5 percent? That is why the title of this bill is so important. In order to reflect the essence of this bill the title should be the “Special Maori Taxation Bill”.