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Taxation (Transformation: First Phase Simplification and Other Measures) Bill

Introduced on June 30. The bill intends to make the tax system simpler. Amongst other things it lifts the automatic refund threshold, rewrites law to allow IRD to communicate in other ways than in writing or by post, simplifies the tax rules for employee share schemes from 1 July this year allows pooling method of depreciation to include assets valued up to $5,000 up from $2,000. Received its first reading on October 13 and with the support of all parties was sent to the Finance and Expenditure Committee for consideration. Reported back on March 21 with minor amendments. Second reading debate interrupted on March 31 and completed on April 12 on a voice vote. Committee stage interrupted on May 10 and completed on May 24. Third reading completed on May 30 by a voice vote. Taxation (Transformation: First Phase Simplification and Other Measures) Bill