John Key puts money in solicitor’s trust account to pay his legal bills; Media party and Labour party go nuts

John Key performed a routine transaction ensuring his lawyer had funds to pay his bills for performing work, the funds were deposited in a NZ trading bank account and the Media party and Labour have gone nuts.

It really is that bizarre, as Andrew Little falsely claims he published his tax returns when all they are PAYE schedules and salary deductions.

marwick tweet

Labour and the Media party are losing their shit.  

But if trusts are now bad then I await the media exposure of the controlling interests in the following trusts;

Clearwater Trust, Faye Clark Family Trust, Richard Clark Family Trust, Eagle Bay Family Trust, September Trust, Phoenix Family Trust, Ngāti Hine Forestry Trust, C.J. Hipkins Family Trust, Lind-King Family Trust, JP Whiteley Family Trust, Mahuta Whanau Trust, Agincourt Properties, Karitane Trust, Tarras Trust, Waipu Trust, Sackville Trust, Easingwood and Twyford Family Trust, Tū Wahine Trust, Ruruhira Robin Whanau Trust, Whaitiri Whānau Trust, Aaron Thomas and Rereao Marsters Family Trust.

And those are just the trusts associated with Labour members of parliament.

While we are at it, let’s hear from Greg Presland over the secret trust he set up for David Cunliffe, and also from Len Brown over his secret trust that funded two election campaigns.

When you see Labour going down this path you realise just precisely how it is they are only getting 28% in the polls.

They are just willing it to be true that John Key is caught with a dodgy trust and is named in these hacked papers they are all wetting their knickers over.

It came as no surprise to learn today that Nicky Hager has his grubby little mitts all over it.

 


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  • Yellow Admiral

    Heads up for those of you in Wellington area. Tim Fookes (NewsTalkZB morning session) has asked whether his listeners trust the media – and where do people go to get news that they can rely on. Great to hear a media person asking the question. Tim’s view is that the media are guilty of a bring-down -the Government beat-up…

    Worth listening.

    • He won’t last long in the NZME dominated culture at ZB. They’re slowly replacing all the people that think like us with people that think like them.

      • Aucky

        Leighton will be gone by the end of the year to tend his beloved vineyard. I’m taking bets that Jack Tame will replace him.

        • murrayirwin

          To start with, I liked Jack. But his true colours came out, next will be the bitterness that drives it.

        • Quinton Hogg

          It will be a pity when Leighton goes. But Jack Tane? noooo.
          It is pretty clear that most media types have no idea what they are taking about either with regard to trusts or what happens in legal or quasi legal offices when transactions take place.
          Their stupidity is mind bending.

        • anniem

          Don’t think so, his vineyard is on the market and heaven help us if we get the snivelling Tame as replacement when LS does go. What are the sane people meant to listen to?

        • WeaselKiss

          OK, you’re on.
          I got a nice new crisp plasticy $20 note to say it won’t be Tame.
          I don’t have any knowledge either way by the way, it’s just my wishful thinking that it won’t be. (Please Lord).

          *handshakebetweenWK&AuckyifAuckyagrees*

      • herewego

        Yep – that guy on with Kerre has more positions on things in a hour than a yoga class of 20 people (edit – grammar)

        • anniem

          Hear hear!! How did he get the job? No don’t answer that, I can figure it out. Such a bloody lightweight.

        • Left Right Out

          I thought she was a cure for insomnia but he is even worse. Have heard he rattling on about his time living in London so I get the feeling he feels global and knows everything

      • anniem

        I think LS will last as long as he wants to but when he does go will the replacement be someone like the intellectually lightweight pair ZB has in the afternoon? I fear so.

    • kayaker

      Leighton was on a similar track this morning. Before that, Hosking gave Annette a good grilling about Andy and the polls this morning – she stuttered and blustered her way through the interview and was glad to be rescued by the fluoride issue grilling Hosking piled upon Steven Joyce.

      • wilson

        Is the lind-king trust, Annette kings trust?. If it is, she said on Hosking this morning she doesn’t have any trusts

        • Sally

          From Pecuniary Interest
          Hon Annette King (Labour, Rongotai)
          Beneficial interests in, and trusteeships of, trusts
          Lind-King Family Trust (trustee and beneficiary)

          • pisces8284 .

            She said on Hosking this morning that she didn’t have a trust, all my money goes on my grandchildren, laughs.

          • Brian Smaller

            Maybe she should table her trust deed in Parliament because I don’t believe her for one instant.

          • Carl

            What time was the interview Pisces?

          • pisces8284 .

            After the 8.00am news, the usual segment with Steven Joyce

          • biscuit barrel

            heres the story . King doesnt say she DOESNT have a trust

            Some one is imagining it .
            http://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast-with-asb/audio/joyce-vs-king-tax-records-polls-and-fluoride/

          • Carl

            I listened to it and I didn’t hear her state that, she was talking about something else.

  • JustAnotherLurker

    HSBC has been named in the Panama Papers. I have a foreign currency offshore account with HSBC in London. How long have I got before questions start being asked about my dodgy dealings???
    This Key beat-up is truly pathetic.

    • Tiger

      Let’s see the next poll results after this beat up, with so many NZs having trusts why are labour doing this? They are in self destruct mode or just plain stupid. What has been done illegally? The media on the other hand are shouting into a funnel. No one is listening, yet they probably think they are going to sell more papers and airtime.

      • R&BAvenger

        They are plain stupid and are banking on the ignorance and stupidity of their shrinking support base.

  • metalnwood

    It’s no surprise to me that if you have a room full of MP’s and a room full of average people there will be more trusts owned by MP’s. It does surprise me a little that they would rally against them when the hits are also self inflicting.

    Little only needed to document what he did because it was just a stunt, one that he could say the PM didn’t do. Mr Little will have a trust. When you start going after other parties for legitimate things you are only going to put yourself in peril. I hope it comes back to bite them.

  • cows4me

    I don’t know JK plays their game, I would tell them to go and …………. themselves and be done with it.

  • Grizz30

    What is forgotten here is the purpose of the trusts. In JR’S case, was it to evade paying taxes. If his trusts are paying their taxes (I think the rate in NZ is 33% but I will stand corrected), then so what. It seems his deposit to the trust in question was to pay legal bills. Quite a routine thing so legal clients are protected from flea lawyers while waiting for lawyers to complete transactions.

    However the media play to the lowest common demonization who are not sophisticated enough to see the forest through the trees.

    • Wheninrome

      Indeed Trusts pay tax, if I had not put my assets into a Trust (divorced to protect for children – a not uncommon reason) I would be paying 21% tax. My trust pays 33% tax on the money I advanced to the Trust. So IS the PAYE taxpayer missing out (i.e. A Little). My personal tax reduces, but the beneficial interest I have in the Trust pays tax at 33% before I receive anything.
      Having put my assets in Trust I could also qualify for a Community Services card, I chose not to as I would not think that ethical. I pay fully at the Doctor and wherever else a community services card would give me financial assistance, but then I am not a socialist by nature. I believe pay your own way UNLESS through misfortune of birth defect or accident you are unable to do so yourself, that is the only time my socialist tendencies ever appear.

  • Wayne Hodge

    The comments on some of the media threads are appalling. They are either obnoxious, ignorant, libellous or all three at the same time. Stuff seems especially bad.
    Even worse are the headlines to the articles which bear no relation to the substance, if you can call it that of theitem which typically consists of snide innuendo and conjecture. Journalistic standards. Hmm!

    • George Carter

      I forget where (I think stuff) but one post this morning said the PM should be strung up from a tree! The journalists may deny it but they know that by pumping out their lies and tittle tattle stories they are feeding many undesirables out there!

    • Left Right Out

      I saw one headline….. Key has some explaining to do…… but the article actually said there was nothing wrong with what he had done…. it was pure click bait headline

  • kayaker

    I bet you anything that JK, for every day this goes on and on, is LMAOing more and more. The patience and resilience of the man (and his family) is amazing. The more Angry’s mob, MSM et al do this, the more the polls tell the story. What idiots!

  • R&BAvenger

    They have gone full retard, let the sun shine in. Trust are not dirty, as long as they fully comply with the law.

  • johnnyB

    When is someone in Labour going to do a reality check? (perhaps Cosgrove has) Little has invested a whole year attacking Keys character and in doing so has portrayed himself as an miserable individual bereft of ideas (admittedly a ‘policy’ the whole party has blindly followed since 2008). In this time he has driven his party to 28% support and a personal tally of 7% – so what is the response they come up with? to increase the attack’s and dig themselves further into the mire. It is akin to ‘The Charge of the Light Brigade’ (minus any hint of bravery).

  • Cadwallader

    The msm carry-on is an exemplar of the stupidity of some NZ’ers when it comes to commercial activity. The stupidity is engendered by the envy of those without assets and aspirations, in other words those at the depths of Labour’s constituency. Little is the perfect face of idiocy, envy and greed. Leighton has a good programme this morning on the desirability of having a trust.

  • Greg M

    The 28% of people who vote for these morons clearly don’t understand one simple fact. Trusts pay more tax than pretty much any other entity, not less and certainly not none. The sheer stupidity of these people is mind blowing.

    • Do you have a source for that claim?

      • Cadwallader

        Top rate 33%.

      • Wheninrome

        I know that my Trust pays more tax than I would personally if the money was in my name.

        • I don’t see it that way. I see it as “pays more tax” in absolute terms. Do trusts pay more tax to the state in dollars? That’s what I was asking. But I see how I went awry there.

      • Christie

        Absolutely correct. Qualifying trusts pay 33%. Foreign trusts – if they have a tax liability – pay 45%.

        • biscuit barrel

          What deductions do your trusts have ?
          If they own a ‘family house or bach’ do they get to deduct interest payments against income?

          • Annoyed

            A family house isn’t taxable so has no deductions. Deductions for a batch that is mixed use (business and private) is done on a pro rata basis and includes a percentage of interest (obviously). You only get tax deductions if there is a nexus to income.

          • biscuit barrel

            When we look at the example given by English when he got the taxpayer to pay him to live in the family (trust) home.
            Thats how it works, you pay rent to your trust, who then have tax deduction.
            Why else would English do it.
            Yours reasoning fails in a specific case.

          • Annoyed

            Unfortunately you’ve missed a step. You aren’t actually allowed to rent your home off your trust. What English did was have parliamentary services rent his home off his trust and allow him to live in it. Individuals can’t do this because it would basically only exist as a tax avoidance scheme.

    • Second time around

      Also a trust can’t defer payments in the way that a company can hold profits and imputation credits (taxed at 28%) until the shareholders want to receive them.

    • M C Chinaman

      28% is just from a small sample opinion survey. The last time there was actual voting, Labour got 25%.

    • Sailor Sam

      We did have a family trust, we paid 33% tax.
      Trust is now legally disolved, we pay 10.5% tax.
      Go figure why a little green party would get upset about Trusts.

  • Bombastic

    I would have thought Labour would have learned from Mike Williams’ trip to Melbourne to sniff out “H-fee” dirt on Key. That lesson should have been 1) collect good evidence, 2) if there is none, keep your trap shut, otherwise you just look stupid.

    • Bartman

      Desperate times call for desperate measures! What the left fail to appreciate is that people vote based on a combination of people and policy appeal. While Labour valiantly search for the evidence to support their KDS stance, they ignore their policy vacuum and the reality that National have the wood over them utterly and completely. In a hypothetical situation where Key was found wanting I suspect there would be a smooth leadership transition and barely a blip in the polls. To Labour – please don’t stop, you’re onto a winning strategy /sarc

    • Isherman

      Your comment points out the whole of the problem for Labour, not just on any particular topic, but in general, and that is that they are simply incapable of learning the severe lessons that they are constantly handed. Situation Normal.

  • Dan

    Add to the list of trusts the fact that every home deposit should be held in a trust account, either that of a real estate company or a lawyer.

  • axeman

    Ah from what he (Little) Declared why would you want him to run the country.

    • shykiwibloke

      If he thinks a PAYE schedule is a tax return – it explains just how deep the economic knowledge is with this one.

      • axeman

        Well it is for him because he has never had to run his own business, and actually be responsible for making and creating a dollar, he has always been paid by others to do a job. Like a lot of other lefties when they have to actually create a dollar they struggle.

        • shykiwibloke

          Respectfully disagree. I would be very surprised if there was not other income streams to declare such as investments, trusts etc. all would be revealed in the ‘proper’ tax documentation…

          • JohnO

            If he has other income streams then he is misleading parliament and NZ as to his income tax status.

          • axeman

            Sure agree 100% with that in regards to other income streams and trusts.
            But I was just really trying to point out he has spent most if not all his time employed. Therefore knows little about actually creating a dollar from nothing.

          • shykiwibloke

            Yep. Agreed. Still – many of the Union members earn next to nothing, so 170+Kpa is tantamount to creating a dollar from nothing……

  • shykiwibloke

    I think one of the keys here is the term ‘Trust’ – something the left, including the media party, really struggle with – both in receiving and giving.

  • Michelle

    Be nice if a few members of the public who have trusts were to sue him

    • Second time around

      Unfortunately it is unlikely anyone would bother- why spend good money with no chance of getting a return.

  • Hard1

    There is a parallel here with the current Republican boondoggle. The Republicans have essentially been destroyed by media reaching for profits. Are our media acting in the same way, manipulating the reading public for profit alone?
    “Interestingly, the Fox media empire that is dominated by the tycoon Rupert Murdoch is shockingly reminiscent of the media empire from around 1900 that was dominated by the tycoon William Randolph Hearst.

    Mr. Hearst was notorious for printing false information in his media network of newspapers in order to influence public opinion and politics. Instead of using his vast media network to objectively and fairly report news and disseminate information, Mr. Hearst used his media network as an instrument of power by controlling the content and distorting the truth in order to manipulate public opinion for his own benefit.”
    “Today, the bottom line is money. Politics is secondary. While the media content is highly political, the purpose behind influencing politics is to serve the primary objective of protecting the big profits”

    Well worth reading….http://www.huffingtonpost.com/cody-cain/how-fox-news-destroyed-republican-party_b_9644594.html

  • Second time around

    Today at question time we will get:

    ANDREW LITTLE to the Prime Minister:
    Does he have any financial interests which may affect his decisions
    around foreign trusts; if so, what are those financial interests?

    Little seems to have no financial interests, and that is what is affecting his judgement.

    • Woody

      I see that David Cameron has to deal with the same moronic attitude, good to see that insulting the Prime Minister gets a member kicked out, David Carter should do a bit more of that then maybe, just maybe we might see some relevance reinserted into question time. https://www.facebook.com/NowThisNews/videos/1039089756181148/

  • LesleyNZ

    Every time I hear politicians and the media going crazy over John Key on this issue, Greg Presland and the secret trust he set up for David Cunliffe always comes to mind and I think – what a bunch of hypocrites. If Andy is so concerned about being transparent and lily white then he should be investigating the secret trusts in his own party.

    • StreuthCobber

      And don’t forget the Len Brown Trust set up by Presland. He’s also Trustee of Lopdell Trust – – published accounts are unaudited incomplete draft format. . charities.org.nz

  • Rebecca

    Advice to Mr Key: from now on why not have the lawyer issue invoices rather than holding a balance. Which leaves one fewer item in the pecuniary declaration to be misinterpreted by fools. Oh, and bravo for the diligence of the reporting- something that hasn’t been commented on in the MSM but ought to be. Key could have left out a solicitor’s deposit without fear of repercussion AFAICS.

    Meanwhile back in the jungle…

  • 10cents

    The media are just as bad as the Labour party. Making a story out of a non-story. STOP PRESS – John Key has a family trust AND and a lawyer. OMG.

    • Woody

      I would be much more concerned if he didn’t. Once again, nothing to see here but make a story out of it anyway.

    • biscuit barrel

      His lawyer is a specialist in offshore trusts, its not your odinary law firm

      “Antipodes Trust Group Limited is an independent New Zealand owned and operated trustee company with its origins in the legal practice formerly carried on by its principals. From small beginnings over 20 years ago the business has grown to be a significant provider of trustee services both domestic and international. The company is focused on providing discreet personal service for private clients, personalised pension funds and family offices, and building successful long term relationships with its clients, many of whom have been served by us for decades. While providing trustee and related services …

      • Annoyed

        Actually, his lawyer seems to be an expert in Trusts. He now works for a firm that has experts in foreign trusts. Considering that John Key has a blind trust that runs his investments (so he can’t use his position to effect them), it is unreasonable for anyone to expect him not to use a Trust expert. That a Trust Law specialist firm would service foreign Trusts is also not unreasonable.

        The people that expect John Key to move his investments are basically telling him to increase his personal risk purely because they don’t like the people he’s dealing with (even though they’re doing nothing illegal).

        • Wayne Hodge

          John Key does something legal, media make up stories, Little barks at car. Itjust gets more and more silly.

      • Justme

        Considering John Key has a family home in Hawaii, a specialist in offshore trusts would be recommended.

    • Charlie

      OK, I have to come clean and admit that I have as well, but worse than that I have a bank account with several offshore banks, (BNZ, ANZ, ASB etc.)
      For gods sake don’t tell the child reporters from the MSM, they could probably write a full page spread of my transgressions.

  • Charlie

    And these plonkers in the MSM wonder why we don’t buy their BS sheets (AKA newspapers). I have almost given up completely on watching TV news or reading newspapers, the content is just absolute crap. Why the hell do they carry on supporting the losers and making up crap about those who are improving our society?
    I guess that the reason is that the kids that write this rubbish are just losers themselves, people like that are usually know nothing dickheads that think they know everything and are superior beings because of the potential power that they wield over us “Normal”, but inferior people.

    • digby

      Completely agree Charlie. I worry about the effect the MSM is having on the radical fringe who take the BS being published and further stretch it to support their skewed idea of the world. This all results in the nutcases thinking they are doing what is “morally right” and that they are “justified” in what they are doing when their protests turn violent. Their frustrations boil over after long periods of being dismissed by most of the population. I see this increasingly on social media and no-one seems to do anything about it until its too late. WO is seen as being hard right so is ignored by these idiots and there doesn’t seem to be a rational voice on the left.

  • Asian_driver

    The iRD should asses them all , audit any of them that are dodgy. Oh hang on thats what they do anyway, all the while being discrete.
    If the MSM know of something dodgy go the the IRD website and narc on them , its their job !

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