The legal action between the Inland revenue Department and two Christchurch surgeons is set to continue, after their tax dispute case was accepted to be seen in front of the New Zealand Supreme Court. Ian David Penny and Gary John Hooper’s application to appeal to take their "company structure" tax evasion case to the Supreme Court was approved on August 2nd. The action revolves around alleged tax evasion committed by the medical professionals through a controversial company structure which was claimed, by the ... Read More

A New Plymouth company director has been fined for two counts of failing to adequately declare his income. In his defense, the man partially attributed the omission to supposedly not understating the meaning of the “$” symbol. On July 6th, Stephen Blackman, director and shareholder of Plant and Platform Consultants LTD, was fined NZD 1500 in addition to court costs on July 6th, for two charges of filing false or incomplete tax returns. According to the New Zealand Inland Revenue Department (IRD) Stephen ... Read More

The New Zealand Inland Revenue Department (IRD) will begin closer scrutiny of new zealanders with undeclared offshore assets and incomes, in an effort to stop tax evasion. Last week the IRD released a statement disclosing its intention to utilize New Zealand's existing Tax Information Exchange Agreements (TIEA) to catch potential tax evaders. Martin Scott, Group Manager of Assurance, revealed that the IRD is particularly interested in discovering New Zealand tax residents undisclosed offshore bank accounts, overseas life-insurance policies and superannuation benefits. Under current ... Read More