Yesterday I posted an email from someone questioning how much is actually in the secret offshore account of David Shearer’s that he just forgot all about but managed to file tax returns for.
David Shearer has admitted it has more than $100,000 in it. He has to declare it if it has over $50,000. But IRD rules suggest that the account may in fact have over $500,000 in that account.
Well because Chase Manhattan interest rates are only 0.2%:Ā
If his balance was less than $500,000 then he wouldn’t meet the IRD declaration thresholds…and we all know that he filed this account with his returns because he told us he did.
So I ask, once again…how much is in David Shearer’s offshore bank account?
I mean, clearly everyone hinks it is completely understandable that someone could forget an offshore account with $50,000 in it…but could they really just forget about one with more than $500,000 in it.
Perhaps Mr Shearer might like to be like US politicians in a similar predicament and publish his IRD returns so we can see if he is being truthy or not.