The New Zealand Inland Revenue Department (IRD) is taking international methane producer Methanex to court over what it claims was “tax avoidance” behaviour. The issue behind the ordeal is that Methanex sold and payed out on promissory notes that were issued by Methanex to its parent company, Wendover Holdings. Generally a promissory note is one [...]

The New Zealand Inland Revenue Department (IRD) is taking international methane producer Methanex to court over what it claims was “tax avoidance” behaviour. The issue behind the ordeal is that Methanex sold and payed out on promissory notes that were issued by Methanex to its parent company, Wendover Holdings. Generally a promissory note is one which acknowledges that they will pay another company a set amount of money at a set time, and probably with a set interest rate, similar in some respects ... Read More

Nelson man, Simon James Moir Hedley, has been sentenced to two years and three month of jail time for tax evasion. The Nelson based resource management and coastal marine consultant was ordered to pay $113,113.31 to the Inland Revenue Department (IRD) and sentenced to jail time. He entered a guilty plea to the twenty charges [...]

Nelson man, Simon James Moir Hedley, has been sentenced to two years and three month of jail time for tax evasion. The Nelson based resource management and coastal marine consultant was ordered to pay $113,113.31 to the Inland Revenue Department (IRD) and sentenced to jail time. He entered a guilty plea to the twenty charges against him. Charges were all of a tax fraud nature, ranging from providing false information to making false claims in relation to refunds and tax payments. Simon James Moir ... Read More

Kevin Wayne Frazer, a Tauranga accountant has received a sentence of ten-month home detention and 250 hours of community service work on charges of Tax evasion. Kevin Wayne Frazer, former director of Total Taxation and Accounting Services pleaded guilty in a Tauranga District Court on the 15th of December, to 68 charges of unpaid income-tax, [...]

Kevin Wayne Frazer, a Tauranga accountant has received a sentence of ten-month home detention and 250 hours of community service work on charges of Tax evasion. Kevin Wayne Frazer, former director of Total Taxation and Accounting Services pleaded guilty in a Tauranga District Court on the 15th of December, to 68 charges of unpaid income-tax, GST, PAYE, fringe benefit taxes and student loan repayments. According to an IRD statement, income tax to an amount of $46,330, GST of $384,356, PAYE of $105,965, ... Read More

The Inland Revenue Department (IRD) is continuing their investigation into the sale of private homes to Loss Attributing Qualifying Companies (LAQC) involving a mail out of over 45,000 letters to LAQC directors. The issue at hand was first brought up by the IRD in a media release in the July of 2004, when the IRD [...]

The Inland Revenue Department (IRD) is continuing their investigation into the sale of private homes to Loss Attributing Qualifying Companies (LAQC) involving a mail out of over 45,000 letters to LAQC directors. The issue at hand was first brought up by the IRD in a media release in the July of 2004, when the IRD voiced the concerns and objections to the possible practice of the selling of private residential property to a LAQC and renting it back, in order to claim a ... Read More