Russell DeborahDr DEBORAH RUSSELL (Labour—New Lynn): I find it telling that in the first two speeches offered by the Opposition on this bill in this third reading both speakers have focused on the name of the bill. They've focused on the name of the bill and decided that that was an issue worth debating instead of looking at the extraordinary substance of this bill. And there are a number of extraordinarily good taxpayer-friendly measures in this bill measures that taxpayers have asked for for a long time and that have now been delivered by this Labour Government. Measures like the feasibility expenditure provisions which get rid of a black hole where businesses could not deduct some expenditure—we have fixed that. Measures like the donated trading stock rules where a person who was generously donating trading stock maybe food to people in need ended up in some cases with a tax bill because of it so we've fixed that. Measures like the business continuity rules where under the old rules there was a very strict numerical test as to whether or not a business could carry forward tax losses and now we've moved to a substance of business test and that has improved something—something that taxpayers have been asking for. These are substantial taxpayer-friendly measures in this bill and the Opposition has ignored them.The Opposition has instead chosen to promulgate ideas which frankly are wrong about the brightline test. They've asserted that it would have a huge effect on developers who would choose not to continue their developments. But—and this is really important—the extension of the brightline test to 10 years does not apply to new builds. It's really important to understand that. If people are ringing up concerned that their new build their new project might get caught up in this: it will not. The extension to 10 years does not apply to new builds—straightforward and simple. And the changes to the brightline test are prospective. If someone bought a house two months ago that falls under the old rules. If someone bought a house one week ago that falls under the old rules. If someone buys a house today it falls under the old rules. Because there is a window of opportunity for people to make their business decisions now—right now. It is a prospective measure. It's going forward so there is good protection in there for people who are choosing to enter the residential property market.We have heard objections from the Opposition asserting that we are putting a tax on the family home. We are not. The brightline test does not apply to the main family home. When the main family home is being used as the main family home the brightline rules do not apply. That is a straightforward thought. So we have protected the main family home we have protected people who have already made their decisions we have protected new builds in this extension of the brightline test and it is very important to have that in mind.So focusing on the substance of this bill it protects people who have made their business decisions already it puts in place measures which we anticipate will help to control the rampant speculation in the property market and to make things easier for first-home buyers and it puts in place a series of substantial taxpayer-friendly measures in a realm of areas which taxpayers have been asking for. This is a good bill and I commend it to the House.