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It's fair to say ocd disorder we have some concerns, and some have been raised by previous speakers-my colleagues on this side of the House. The Australian example would show you that the tax credits tend to blow out over time.

They start off as a prescribed amount-and in this case, we're talking about a billion dollars-but the Australian example, with all the best advice, with all the best rationale and all the best controls, has ended up in a somewhat uncontrolled position, far than what was envisaged.

That's because accountants, lawyers, and smart business-restructuring experts find ways around to actually shift normal income that isn't taxable into a taxable expenditure. We shouldn't underestimate-and I've read the schedule and I've seen читать полностью exemptions-how accountants will try and reclassify expenditure to get a greater deduction.

I also have a particular concern because I перейти see in the legislation how start-up companies can access this easily. These are the types of things that we want explored properly in the select committee.

We are a completely pro-business party. We strongly support the endeavours of community businesses, large and small, right across New Zealand. So I commend this bill at its first reading to select committee, and МЛЯ cord bank blood блог really interested to see what comes out of that process.

It is a pleasure to rise and speak on this, the first reading of the Taxation nguyen dan and Development Tax Credits) Bill.

We as the Greens believe that a clean, green economy has to be our future because, indeed, if we don't have a planet, if we don't have a sound, safe, secure environment, then we don't really have an economy.

I also wanted to reach out across the aisle and say thank you very much to the Opposition for throwing their support behind this piece of legislation. I do think that it's perhaps the first time that I've ever heard Acetohydroxamic Acid Tablets (Lithostat)- Multum the National Party fears or concerns about tax credits or reducing tax, but I absolutely invite their critiques on this piece of legislation, because that robust scrutiny is going to be incredibly important at the venclexta committee process.

This piece of legislation is important because New Zealand is presently behind the rest продолжить чтение the world, but we typically, actually, pride ourselves on being at the cutting-edge. We're behind the Acetohydroxamic Acid Tablets (Lithostat)- Multum of the world when it comes to our investment in research and development-a point which has been noted by speakers prior to myself, but I think it's important to put it on the Hansard, in detail-and New Zealand's investment in research and development measures at 1.

New Zealand is also behind on the number of patentable ideas produced, with most OECD countries producing nearly four times the amount produced Acetohydroxamic Acid Tablets (Lithostat)- Multum in Aotearoa New Zealand.

I think that Acetohydroxamic Acid Tablets (Lithostat)- Multum a country and a people and a society that prides ourselves on our innovation and, indeed, on our ideas. The purpose of this legislation is to get behind those ideas and incentivise them, with as little bureaucracy and red tape as possible. Why we are stoked about this methodology as opposed to what other members from the Government benches have criticised, the grants-type approach, is that grants appear to Acetohydroxamic Acid Tablets (Lithostat)- Multum winners.

There is absolutely a competitive process, but it isn't as Acetohydroxamic Acid Tablets (Lithostat)- Multum or as streamlined or as available to all companies who are investing in that research and development, and innovating. There therefore are barriers to entry, and it's not available to all.

Tax credits remove that bureaucracy and ensure that all who are investing, obviously, within that threshold are able to get that tax credit. So too I think it is important to note that this diversification, which is enabled by way of investment in research and development Acetohydroxamic Acid Tablets (Lithostat)- Multum, indeed, in innovation Acetohydroxamic Acid Tablets (Lithostat)- Multum incredibly important to build a more robust and sustainable economy-one which adds value.

New Zealand has often actually led the world when it comes to our innovation Acetohydroxamic Acid Tablets (Lithostat)- Multum ideas in детальнее на этой странице, in software, and in products.

I think that it's also worthwhile noting that throughout the select committee process, Acetohydroxamic Acid Tablets (Lithostat)- Multum would be incredibly valuable for members of the select committee, нажмите сюда I'm sure will come up throughout the submissions process, to take into account that it's presently kind of unclear how loss-making companies-which, notably, is the situation for many start-ups Acetohydroxamic Acid Tablets (Lithostat)- Multum small businesses, which has been cited by many members-will be catered for under this new regime.

So that, perhaps, is something worth taking into account throughout the submissions process, and, indeed, I would invite any member of the public who is interested in this riveting piece of legislation-I promise, it посетить страницу источник riveting-to engage in Acetohydroxamic Acid Tablets (Lithostat)- Multum select committee process. It creates, essentially, a more level playing field because it is moving away from Acetohydroxamic Acid Tablets (Lithostat)- Multum system of grants and picking winners.

Instead, it is available to all of those companies who engage in that investment in research and development. I just, finally-despite the cross-partisan sense of great unity-want to bring to account a few of the tiny things mentioned by the previous speaker Lawrence Yule, when he noted that it was under the National Government that we steamed ahead with our diverse and our highly productive economy.

Just on one point in particular, I wanted to state and fact-check the point that labour productivity in the final years of the National Government was at the lowest Acetohydroxamic Acid Tablets (Lithostat)- Multum had been seen since 1996. So I think that's just an important fact to put on the Hansard, Acetohydroxamic Acid Tablets (Lithostat)- Multum we shall entertain such facts.

But, moving back to that unanimity and that great sense of innovation and collaboration, which I'm stoked to see lighting the way across the House this Thursday Acetohydroxamic Acid Tablets (Lithostat)- Multum, the Green Party is incredibly proud to be supporting this piece of legislation and would like to tautoko the sentiments raised by my colleagues-particularly from New Zealand First-in bringing this idea to the table and making it happen in this Government through the coalition agreement.

We're incredibly proud of this move. I would also-just finally-like to make the point that this is something which I hope Russel Norman, former Green Party co-leader, will be incredibly happy with, given that it is something that he advocated very loud and strong for, for quite a long while. ANDREW FALLOON (National-Rangitata): Thank you, Madam Assistant Speaker. Omron a pleasure to be taking a Acetohydroxamic Acid Tablets (Lithostat)- Multum this afternoon and speaking on the Taxation (Research and Development Tax Credits) Bill.

Well, I'd just simply counter by saying that it's the first time I've heard the Green Party speak in favour of a reduction in tax. We do support this bill, though, because primarily we do support a greater uptake of and development in the New Zealand economy, particularly for small businesses.

We also recognise the destabilising effect that can happen when Governments do change, and Governments have a habit sometimes of throwing out everything that the previous Government has done.



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