The hypocrisy of Unite Union

Oh the irony, a Unite union boss writing about a company being a tax cheat. Mike Treen launches an attack on McDonalds without his own hands being clean.

It looks like McDonald’s NZ has been using accounting tricks to avoid paying tax in New Zealand.
In 2011 there was a special payment of $154 million that was paid for by borrowing the money from the Bank Mendes Gans NV, which manages a lot of the company’s international finance. The total loan was actually for $278m to both pay the dividend to the US and repay a “loan” from McDonald’s Australia of $123.567m.

The dividend payment more than doubles McDonald’s NZ liabilities to $301.9m and “will similarly boost its tax deductible interest expense in coming years.

In the last three years McDonald’s NZ has averaged around $200 million a year income. This is income from the 30 stores it owns directly and the fees from the 131 stores owned by franchisees. 

The before tax profit declared for the 3 years was $146.562m. Tax paid was $46.95m – which would seem to be the correct company tax rate. The problem is that a huge amount of revenue is excluded from the profit by accounting mechanisms.

If Mike Treen knows so much about tax structures and accounting then how come Unite still hasn’t filed their annual accounts for three years, still owes IRD for their own tax dodging behaviour?


No accounts for Unite for 3 years

By using “loans” that are ultimately from themselves, as well as paying exorbitant trademark fees for the intellectual property of making a hamburger McDonald’s is transferring income made in New Zealand to their US masters without paying tax on it here . If it is legal it should be outlawed. If its not legal they should be prosecuted.

Good idea…the law requires a union to file annual accounts, it requires that organisations pay tax too…that’s not legal, time for a prosecution f Unite union and its principals.

They should be de-registered immediately as well. They have failed in their statutory requirements 3 years running and still have outstanding tax matters.

When will our statutory bodies start holding organisations to account that fail to follow the law?

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As much at home writing editorials as being the subject of them, Cam has won awards, including the Canon Media Award for his work on the Len Brown/Bevan Chuang story. When he’s not creating the news, he tends to be in it, with protagonists using the courts, media and social media to deliver financial as well as death threats.

They say that news is something that someone, somewhere, wants kept quiet. Cam Slater doesn’t do quiet and, as a result, he is a polarising, controversial but highly effective journalist who takes no prisoners.

He is fearless in his pursuit of a story.

Love him or loathe him, you can’t ignore him.

To read Cam’s previous articles click on his name in blue.