The Resource Management Reform Bill, designed to speed subdivision and regional infrastructure projects and to grease the progress of the Auckland Unitary Plan, was reported back from select committee on Tuesday and is expected to be passed before the end of this year. Most of the committee’s proposed changes could be described as procedural but some are more controversial and will be opposed by Labour and the Greens. The Court of Appeal has overturned a High Court decision to reaffirm the powers of the labour inspectorate and the obligations on employers to cooperate in the conduct of investigations under the Health and Safety in Employment Act 1992 (HSEA). The clarification is timely given that the HSEA is soon to be substantially strengthened as part of the Government’s response to the Pike River tragedy. The Inland Revenue has released its much anticipated proposals to extend the scope of the thin cap regime and restrict the existing safe harbours.
The thin cap regime limits interest deductions claimed by foreign-owned New Zealand companies with debt to equity ratios exceeding certain thresholds.
Submissions can be made by 28 June 2013.
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