Leary Ingrid; Watts SimonINGRID LEARY (Labour—Taieri): Gosh I was getting very excited then particularly with all the debate that was coming from the other side of the Chamber.I'm well aware Madam Chair that there are rules that say that any changes and suggestions for changes to the title of the bill must be said in seriousness. And so I do Madam Chair. I believe that this bill would be better called the Taxation (Annual Rates for 2023-24 Multinational Tax and New Powers) Bill". The reason that I say that is that what this bill does in two particular areas—and I haven't heard satisfactory responses from the Minister—is give new powers to the Commissioner of Inland Revenue. One is around retrospectivity on the child welfare deductions. I did ask a number of questions about whether a New Zealand Bill of Rights Act vet had been done what his analysis was on the retrospectivity and we haven't had a chance to debate Schedule 7. But if I look at the title and commencement date and then I look at Schedule 7 it's got very sweeping language around the sections to do with child payments and the deductibility and the exemptions coming into force on before or after the date of 26 October 2021. So that is quite a big power for a bill that is purporting to only influence taxation rates of 2023. Hence my suggestion that we talk about the new powers of the commissioner in the title.The second reason is of course around the information-sharing powers. Now I raise this because I didn't get a satisfactory answer from the Minister about this. Again he didn't respond to my question about whether the Privacy Commissioner had provided advice. When the previous Government introduced the taxation principles bill one of the biggest outcries from the then Opposition was that this was going to provide far too much power for the Commissioner of Inland Revenue and ultimately for politicians to be able to see information relating to the tax affairs of its citizens. And yet that is what this provision does. Section 220B enables on the face of it the commissioner to get far more information than what the bill says on the tin.CHAIRPERSON (Barbara Kuriger): Can we come back to the title and commencement.INGRID LEARY: Well absolutely Madam Chair.Tim Costley: You talk about the title and commencement and I won't close it.INGRID LEARY: Look I'm very happy to yield if you're prepared to talk about title and commencement. But the point is that that does give the commissioner much further powers than what the Minister has conceded and we should reflect that in the title of this bill so that people are really aware when they go into taxation that this is not only looking at multinational tax for 2023-24 and remedial matters but it is giving the Commissioner of Inland Revenue new powers. That should be on the tin—that is what the bill does—and I would like to hear the Minister respond to that please.Hon SIMON WATTS (Minister of Revenue): While most of that was out of scope the aspect in regards to the New Zealand Bill of Rights Act (BORA) vet that was noted by the member Ingrid Leary I can assure the member—and I note that she wasn't on the Finance and Expenditure Committee—there was a BORA vet undertaken for this bill and introduced as part of that and there were no concerns that were raised in regards to that. The retrospective nature has been covered already is a taxpayer friendly aspect and basically that's as much as we need to talk about on that aspect."