64628 (2024). Hon Dr Deborah Russell to the Minister of Revenue

64628 (2024). Hon Dr Deborah Russell to the Minister of Revenue: Has the Minister seen the 25 May 2022 regulatory impact statement “GST on management services supplied to managed funds”; if so, does he stand by his response to 60065 (2024) that “the fiscal implications of finalising the Commissioner’s draft interpretative view are unclear”.

Hon Simon Watts: I stand by my complete statement in my response to 60065 (2024): "Officials advise the fiscal implications of finalising the Commissioner's draft interpretative view are unclear because limited information is currently available on the impact of the interpretation." The document in the member's question was published under a previous government and predates my tenure as Minister of Revenue by some time. I am however advised by officials the information contained in the 2022 Regulatory Impact Statement is out of date and did not include the interpretation of existing law Inland Revenue is currently consulting on. Inland Revenue is currently accepting submissions on the draft Interpretation Statement until 25 October 2024 and information provided by the industry may inform officials about how they may be impacted.