Robertson Grant; Tisch LindsayGRANT ROBERTSON (Labour—Wellington Central): Thank you—4 minutes.Hon Ruth Dyson: I thought it was 3:47.GRANT ROBERTSON: Well I think an extra 13 seconds is well merited on this piece of legislation.When I was last debating this the other evening I covered mainly the broader issues around our concerns about ad hoc tax legislation and the spectre of having to revise and amend legislation that the House passed only a matter of months ago and our concerns on that and also the question that this piece of legislation sets New Zealanders' annual tax rates for the 2016-17 year which is actually nearly over.The Government has not quite managed to get this bill in front of the House until now. We are debating the second reading today and I suspect that by the time we get through the Committee stage and the third reading we will be pushing through April and so there will be just a couple of months where the tax rates that New Zealanders have actually been paying this year will have been legislated for. I will leave viewers and listeners to make their own minds up as to what that says about the levels of organisation within the Government—particularly within the management of the House.I do just want to refer very briefly to a couple of the substantive issues in the bill that the committee dealt with. I just want to acknowledge on this occasion—I know I am not supposed to say this but he was not here the other evening when we began the second reading—the former chair of the Finance and Expenditure Committee David Bennett who really did shepherd this piece of legislation through its work. We do miss him. Chris Bishop gave a speech that David Bennett just would not have given in this House the other night and I will leave it up to listeners to decide what that means as well. But I do acknowledge Mr Bennett's work in seeing this legislation through.The two issues I want to mention that did attract the attention of submitters were around the changes for look-through companies—closely held companies generally but in particular look-through companies which are as other speakers have said in this debate legitimate devices for managing the affairs particularly of small businesses and small groupings of taxpayers. What the bill and the officials sought to do was to ensure that look-through companies are being used appropriately not being misused. The committee understood that this was a small number of look-through companies that may be falling into that category. What submitters wanted to do was to make sure that the tightening of the rules did not take out those people who were legitimately using these devices. I believe we have struck that balance in particular through the change around the transitional provision for existing look-through companies. I think that gives an assurance to those who are using these vehicles that if they are being used legitimately at the moment there is now a process that will not impose a burden upon those companies during the 2017-18 tax year. There were some exceptions around charities and those concerns will I suspect come back to the committee at a time in the future.The other major issue was around the changes to the net non-resident withholding tax and the approved issuer levy rules as they apply to interest paid on debt provided by non-residents. This is consistent with the changes around non-resident withholding tax that both the Government and the Labour Party have proposed in the past and I do believe they make good sense as well.So overall the Labour Party is happy as we always are to support tax legislation that gives us a fair system and gives a system that is clear and understood by all taxpayers in it. I want to thank the officials who had quite a tough job of pulling together a number of disparate elements into one piece of legislation. I shall leave it to our colleague Andrew Bayly to describe in great depth aircraft overhaul expenses and the changes that are being made to those because he and David Seymour—The ASSISTANT SPEAKER (Lindsay Tisch): I am sorry. The member's time has expired.