Brewer CameronCAMERON BREWER (National—Upper Harbour): Thank you Mr Speaker. It gives me great pleasure to rise in support of the Taxation (Annual Rates for 2023-24 Multinational Tax and Remedial Matters) Bill. Again I commend all the work and observations that have been made to get us to this point on this omnibus bill. I was hoping to talk more to the Government's Amendment Paper but I respect the process in the Chamber and that that will come at the next stage.Although referring to it—as you've said we're allowed to in passing—this omnibus bill with the Government amendments will certainly restore a lot of fairness to those mum and dad landlords that dominate our landscape. In fact about 80 percent of landlords in New Zealand own one property—they are mum and dad landlords. So restoring interest deductibility for them and returning the brightline test to two years is going to make a real difference. And as this bill will cover off a lot of us heard on the doorstep just how much people mum and dad landlords were looking forward to the Government looking at that restoration of interest deductibility. Again that is a legitimate cost a tax expense that should be claimed as an expense and that is something—ASSISTANT SPEAKER (Greg O'Connor): Having pointed out you understood the ruling you're probably putting it a little bit far there Mr Brewer.CAMERON BREWER: Oh it's the much more exciting part of the legislation. Like member Swarbrick said it's difficult to make it exciting—ASSISTANT SPEAKER (Greg O'Connor): Well another good rule of the House is don't get ahead of yourself.CAMERON BREWER: Thank you. The main provisions—if we go back to the purpose of the bill—are about redefining New Zealand's tax framework towards a broad based - low rate model and improving the administration of taxes KiwiSaver and child support by the Inland Revenue Department. Just to recap for those viewers as to what this omnibus bill actually looks at and addresses it is setting annual tax rates; global anti-base erosion measures; the trustee tax rate which has been well-exercised to align with the top personal tax rate; the taxation of backdated lump-sum payments; taxation rollover relief; the Nelson floods and the brightline test there; and the overseas donee status; and correcting extra pay inaccuracy on termination.So as our Minister of Revenue Simon Watts introduced this stage with this is something that's been a huge effort and that pulls a lot of strings together. And as I alluded to and I will allude to one more time with the amendment bill that's coming to this taxation bill it will focus on the Government's determination to reform our tax policies and address tax anomalies. The residential property investment support—again measures restoring interest deductibility and reducing that brightline test which is key.Regarding the select committee report that others have referred to the Finance and Expenditure Committee examined this and unanimously recommended its passage along with unanimous amendments and further recommendations for streamlining the legislative process for tax purposes and emergency responses. So I finish as I began: I am looking forward to talking about the Government's Amendment Paper where we're looking at and the Minister's proposing the restoration of interest deductibility on rental properties and reducing that brightline test from 10 years to two. I commend this bill.