Jail Term for Auckland Tax Fraud
July 14, 2009 New Zealand Taxation
Lawrence David Eade, Auckland property consultant and former chartered accountant, has been sentenced to two and a half years jail time for tax evasion.
Lawrence Eade pleaded guilty to fourteen charges of tax evasion and one of failing to register for GST, in the Auckland District Court. His evasion has been estimated to exceed $200,000 and has netted him two and half years jail time.
Between March 2003 and March2006, Lawrence Eade was bankrupt. He continued to trade in a personal capacity, but continued to issue invoices in the name of his company, About Property Limited. The inovoices would be settled via payment to the personal account of Lawrence Eade.
It is believed that $177,087.99 was evaded by Lawrence Eade in income tax. GST evasion amounted to $62,355.06.