Bennett David: Taxation (Transformation: First Phase Simplification and Other Measures) Bill — Third ReadingText is incorporated into the Bound VolumeBennett David: Taxation (Transformation: First Phase Simplification and Other Measures) Bill — Third Reading[Sitting date: 31 May 2016. Volume:714;Page:11534. Text is incorporated into the Bound Volume.]DAVID BENNETT (National—Hamilton East): It is a great pleasure to speak on the Taxation (Transformation: First Phase Simplification and Other Measures) Bill. This bill is the first phase of the changes to progress the Business Transformation case.Fletcher Tabuteau: Are you sure?DAVID BENNETT: I am very sure of my idea. It includes things like electronic communication simplifying the collection of tax on employee share schemes information sharing and there are some other tax simplification measures around KiwiSaver foreign investment fund schemes co-location of services and special tax codes. As Minister Woodhouse has said this is a bill that is part of a process. It is part of that simplification process. It goes through some of issues around communication that can always be made better especially with a very complex and detailed system such as the tax system. I was interested in that last speaker Stuart Nash who in his comments once again reiterated that there is no capital gains tax—it is the firm belief of the Labour Party to have a capital gains tax. I know that it is somewhat contrary to the Green Party position where it wants to tax property each year on the value increase of that property whether it is sold or not.Stuart Nash: What? Rubbish.DAVID BENNETT: No that is true—that is what the Green Party wants to do.Stuart Nash: Rubbish.DAVID BENNETT: No well ask Julie Anne Genter. The Green Party would have a tax on the capital value increase of a property—that is what it wants to tax on. That is the Green Party policy. It has been enunciated a number of times by Ms Genter. It is one of those difficulties that you are going to see between the new coalition of the willing between the Labour Party and the Green Party. In the past Helen Clark was not so silly. When the coalition was formed she did it—The ASSISTANT SPEAKER (Lindsay Tisch): Order! This is a third reading speech. If the member refers to Speakers’ rulings on pages 136 and 137 it is very clear what is within the scope of a third reading. I will ask the member to come back to that.DAVID BENNETT: In regard to tax there is a dichotomy of points of view.Fletcher Tabuteau: Just wrap it up.DAVID BENNETT: Well it would be interesting to hear New Zealand First’s point of view on capital gains tax as well. I am sure we will come to that soon.On the other side of the House we are hearing that the transformation of the tax bills that those members are seeking would involve that kind of tax system change. That is not being proposed in this bill. This bill is around transformation and simplification in the sense of what is required to make the existing tax system work as well as possible. That is all part of the Business Transformation case that is going on and the money that is being put into the Budget to enable that to happen is also an important part of that process. It is important that the public recognises that there is a difference of opinion on tax in this House. On this side we have a system that we are working to maintain and make the best of. On the other side of the House there are differences of opinion and that will soon show through in their agreements as we go through to the election next year.