Williams Andrew: Supplementary Estimates Taxation (Livestock Valuation Assets Expenditure and Remedial Matters) Bill — Second ReadingText is incorporated into the Bound VolumeWilliams Andrew: Supplementary Estimates Taxation (Livestock Valuation Assets Expenditure and Remedial Matters) Bill — Second Reading[Sitting date: 26 June 2013. Volume:691;Page:11350. Text is incorporated into the Bound Volume.]Supplementary EstimatesANDREW WILLIAMS (NZ First):I take a call on behalf of New Zealand First for the Taxation (Livestock Valuation Assets Expenditure and Remedial Matters) Bill. I note also that in the commentary of this bill it says that one of the purposes of it is “to improve the fairness of existing tax law and regulations protect the tax base and minimise the burden on businesses.”New Zealand First will be supporting this bill now in particular since the car-park tax has been removed which we all felt at the time was a ridiculous suggestion where something like $17 million in revenue was going to be taken in taxes but it was going to cost businesses something like $30 million in their administration costs to actually provide that tax to the Government. That was going to be a nonsense and it was also a nonsense that it was going to be applied to only the Auckland central business district and the Wellington central business district. Then it would provide some huge anomalies as to where you would actually determine companies were located and who would be paying for car-parks in those areas and who would not be. It would be a crazy situation where literally over the road from one company you could be just slightly outside the boundary and be paying for car-parks while just a short distance away another company would be getting away scot-free. That was going to be a ridiculous situation.New Zealand First will be supporting this bill for a number of reasons. We do agree with improving the taxation system. We do support any measures that help streamline the taxation system and help make it a more efficient system. It is a very meaty document. It is very very technical and detailed so I will not go into a lot of it but I will point out some of the areas that we do now support.We do now support the change to the livestock valuation rules that has come through with this and we see that as now being sensible.We do support the fact that it makes some important GST changes such as removing the inequitable situation of non-resident versus resident businesses in this country.It also provides tax deductibility for expenditure on trees and plantings for erosion shelter and water protection purposes. Again we feel that that is a very fair thing to do where farmers or anyone else are in a situation where they are having to put in trees to try to stop erosion and also to provide important shelter. Particularly in this last week or two we have all been very mindful of the shelter that has been required for animals in the South Island in particular and in parts of the North Island. It is a good thing to provide tax deductibility for the planting of shelter and also in terms of water protection purposes. That is a good means of providing a tax deductibility situation.This bill also gives donee status to three charity organisations that operate internationally. They are very worthy organisations and do therefore warrant being included in that particular status.It also eliminates tax treatment mismatches to certain foreign currency hedges. If there are mismatches in that foreign currency hedge area then that is another good area to be cleaning up and ensuring that there are not inequities there.Overall this bill helps to strengthen the tax system. It makes it easier for taxpayers—both personal and corporate taxpayers. We think it has a lot of merits and as we have always said in Parliament New Zealand First will support good policy. We will supportpolicy that assists this country and assists the Government to operate in the most efficient manner that it can. In this respect New Zealand First will be supporting the bill.