The Tax Law Committee makes submissions on proposed changes to tax law. The Committee liaises closely with Inland Revenue and other stakeholders, and makes submission on Issues Papers, Public Rulings, Interpretation Statements, Questions We’ve Been Asked and other projects on which the Inland Revenue seeks feedback.
The Tax Law Committee was created in 1988 to advise the Law Society on matters relating to tax law reform and to establish an open line of communication and consultation with Inland Revenue. Since its inception the committee has built a strong working relationship with IR and continues to be proactive in tax law reform.
Neil Russ is the committee convenor. Neil specialises in corporate and international tax issues, as well as structured transactions. In addition to his tax expertise Neil has a multi-jurisdictional background in banking and capital markets transactions. He has been a member of the Tax Law Committee since 2003 and was appointed convenor in 2013.
The current members of the committee are highly experienced tax practitioners:
The committee continues to be exceptionally active. In the past 18 months the committee has assisted with the development of urgent tax law changes to respond to COVID-19. It has also made comprehensive submissions on tax bills – the Taxation (Annual Rates for 2020-21, Feasibility Expenditure, and Remedial Matters) Bill 2020, and the Taxation (Income Tax Rate and Other Amendments) Bill – as well as further submissions to IR on concerns about the quality of tax legislation and consultation processes.
The committee also made submissions on the annual return/disclosure requirements for trusts and urgent remedial amendments (additional exemption categories).
The committee continues to contribute comments on a diverse range of proposed tax reforms, including tax avoidance, tax treatment of cryptoassets and cryptocurrency, and issues and reforms relating to GST, income tax and so on.