Tax evasion

They seem to be missing a word in the headline

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The NZ Herald has joined in with the Media party pile on regarding the Panama Papers.

Hamish Fletcher has joined the other idiot journalists clutching at straws. and decided to call NZ a tax haven and talk about tax evasion schemes.

New Zealand is complicit in tax avoidance schemes, says an academic.

“It’s shameful for New Zealand to be caught up in international tax avoidance,” Deborah Russell from Massey’s School of Accountancy said this afternoon.

“The loophole in our laws that allows New Zealand foreign trusts to escape taxation has been known about for years, but nothing has been done to shut it down. This makes us complicit in schemes to avoid tax,” she said.

Another tax law expert has also said that the rules around the what foreigners with New Zealand trusts must disclose to Inland Revenue are “weak”.

[…] ?? Read more »

Tax Cheat Paul Staples loses his job

Tax cheat Paul Staples leaves the Manukau District Court with his wife jean Staples

JUST WHEN you thought things couldn?t get any worse for tax cheat Paul Staples, they have.

The 52-year-old former bankrupt and ex-policeman appears in the Manukau District Court on Thursday for sentencing on charges of forgery, tax evasion and knowingly providing false information to Inland Revenue ? offences which carry maximum penalties of up to 10 years imprisonment.

In the meantime, Staples has suffered another setback ? he?s lost his job with Panmure-based company Eastside Security Ltd.

Owner Gary Moore confirmed yesterday that Staples was no longer working for the company.

He said Staples had been dismissed immediately after he had been told about the criminal charges he was facing.

Between September 2008 and August 2011, Staples filed 27 fraudulent income tax and bogus GST returns with IRD under three different companies.

During that time he also claimed a salary as a shareholder of a company when he wasn?t one, falsified sale and purchase agreements and legal documents and registered companies when he was a bankrupt.

Inland Revenue has assessed the debt at around $320,000, but with penalties and interest it is likely to run to well over half a million dollars. ? Read more »

Anmol Seth: The missing $32k


CONMAN EXTRAORDANAIRE Anmol Seth assumed the identity of a client in an attempt to access their company bank accounts ? but was caught out when he couldn?t answer any of the client?s security questions.

The revelations are contained in the findings of a BNZ investigation into the alleged misappropriation of nearly $32,000 from a hospitality company that went bust last year.

It?s another damning indictment against the self-proclaimed ?billionaire of Flatbush? – a man accused of stealing millions from vulnerable and hard-working Indian investors.

A number of complaints against Seth have already been laid with Inland Revenue, BNZ and the Financial Markets Authority demanding action be taken against the Indian businessman for alleged money laundering and GST fraud.

There are also calls for a re-examination of the evidence in relation to the alleged misappropriation of nearly $32,000 from a hospitality company now in receivership after a failed hotel in the South Island last year. ?? Read more »

Corruption, bribes and two IRD officials – A Special Investigation

by Stephen Cook

CORRUPTION ALLEGATIONS have been levelled against two rogue Inland Revenue staff involved in investigating the tax affairs of an Auckland company at the centre of a messy bribery scandal.

The department is refusing to confirm or deny claims the two forensic investigators were part of an elaborate plot to defraud the taxman out of nearly $200,000.

The bribery allegations form part of the murky backdrop to a complex web of betrayal and deception implicating liquidators, an Auckland lawyer, the two IRD staff along with another man, who for legal reasons cannot be named.

Whaleoil understands complaints have now been filed with the Police, IRD and the Law Society over the actions of various parties involved in the scandal.

An IRD spokesman said due to taxpayer secrecy provisions in the Tax Administration Act it was unable to comment ?on matters relating to the tax affairs of individuals, organisations or businesses?.

Even in cases involving Inland Revenue and high-profile customers, the department could not comment on a customer’s affairs, the spokesperson said.

The comments do nothing to shed any light on claims two staff conspired with an Auckland man posing as a lawyer to rip off the tax department to the tune of almost $200,000. ?? Read more »

Ratbag tax dodger Alex Swney likely to spend some time in the pokey

Ratbag tax dodger Alex Swney is likely to be spending some time in the?pokey after he pled guilty to ten years of tax evasion.

After months of staunchly maintaining his innocence former Heart of the City chief executive Alex Swney phoned his parents on Tuesday night to say he was going to plead guilty to nearly $1.8 million worth of tax evasion.

Swney, who once challenged John Banks in the Auckland mayoralty race, appeared in court yesterday for what was expected to be an administrative hearing looking ahead to trial. However, he entered a surprise guilty plea that leaves him facing up to five years in jail and/or a fine of up to $50,000.

The 57-year-old pleaded guilty after the 39 charges laid by the IRD were condensed to four representative counts during what was meant to be an administration hearing. When contacted on Tuesday, Swney said he wasn’t sure what was happening in court the following day.

Butter normally wouldn’t melt in this guys mouth but there is little doubt now that he is a slimy tax dodging ratbag. ? Read more »

Cunliffe all over the place on capital gains tax

The Fairfax embedded Labour fanboi?and sometime political reporter finally comes clean on how the MSM like to pick up their pay cheques without doing any work.

The last sentence in the article says?Labour is being dragged into the mire by a clever National by forcing it to explain the detail of its policy!

But by dragging Labour down into the mire, explaining detail of its tax plan, National had its best day of the campaign since its official launch 11 days ago.

Seriously, you actually wrote that, it’s on paper, there is a record of it!

Explaining details of policy is now being dragged into the mire!

Reporting on hacked emails, some of them forgeries is high principled good journalism though.

If you want a proper explanation with detail that treats you like a grown up with a brain stop here, if on the other hand you want to know what a bunch of middle aged gossips with not a lot to do thinks well stick to the MSM.

Forget for a moment the rights, wrongs and details of Labour’s capital gains tax. National is cock-a-hoop.

After days and days dominated by dirty politics, it has shifted the focus – for a day at least – and put Labour and its leader, David Cunliffe, on the defensive.

The issue flared after the Press leaders’ debate on Tuesday when Cunliffe ducked answering Prime Minister John Key when he asked if under Labour a family home held in a trust would be hit by a capital gains tax (CGT) – and then claimed it would.

It was Key’s best “hit” of the night, leaving Cunliffe looking awkward and trying to change the topic.

It is a mystery why Cunliffe did not come back in the second half of the debate and call Key out on misrepresenting his policy, after his advisers confirmed the family home in a trust would be exempt.

Read more »

Bill Liu is in the news again, for all the wrong reasons

Bill Liu is in the news again after getting raided by the cops.

Jared Savage has the details:

Police have raided the luxury penthouse of a multimillionaire businessman granted citizenship in controversial circumstances and seized his assets because of alleged involvement in money laundering.

William Yan – also previously known as Bill Liu, Yang Liu and Yong Ming Yan – lives on the 35th floor of Auckland’s Metropolis tower. Residents saw detectives removing items from his home on Thursday.

Millions of dollars worth of assets the police allege belong to Mr Yan – although officially registered in other people’s names – have been seized, including the apartment, worth more than $2 million, a Mercedes-Benz, and shares and bank accounts.

Mr Yan has spent millions of dollars as a high roller in the SkyCity Casino VIP lounge. ?? Read more »

Anti-corruption laws a good start but missing important component

Judith Collins has introduced anti-corruption measures in a new law brought before the parliament.

unfortunately it doesn’t include provisions for the creation of an Independent Commission Against Corruption, something sorely needed with electoral act breaches going uninvestigated by police, mis declared donations and pecuniary interests and the like.

I think the law could be strengthened by putting such a provision in and perhaps they could get a good judge like Judge Tony Adeane to handle it.

Justice Minister Judith Collins has unveiled a range of law changes to crack down on corruption, organised crime and bribery in New Zealand.

The minister tabled the Organised Crime and Anti-corruption Legislation Bill in Parliament this afternoon.

It includes requirements for banks to report international transactions, new identity theft offences, and harsher penalties for private sector bribery and corruption offences.

Mrs Collins said the changes would give law enforcement agencies more power to deal with organised crime and corruption, and would help New Zealand fulfil its international obligations.

“New Zealand is consistently regarded as one of the least corrupt countries in the world. However we cannot afford to be complacent — we must remain vigilant,” she said.

If the bill passed into law, banks and financial institutions would have to help Government detect money-laundering by reporting all international wire transfers of more than $1000 and all physical cash transactions of more than $10,000 to the police’s Financial Intelligence Unit.

Maybe they could help Labour find out who trousers the cash from Donghua Liu and other donors?? Read more »

Doing nothing? Another Cunliffe mistruth proved wrong

David Cunliffe posted this extremely misleading image on Facebook with a claim that National was doing nothing about tax dodgers.



Unfortunately for David Cunliffe he has shot his mouth off without first garnering the facts and today Revenue Minister Todd McClay has announced exactly what National is doing to attack tax dodgers.

Speaking at the OECD Cash and Hidden Economy Conference today, Revenue Minister Todd McClay reiterated the Government?s commitment to clamping down on tax evasion and avoidance.

?This is an area the Government has invested heavily in and we are starting to see results,? says Mr McClay.

?In Budget 2010, we invested $120 million in going after tax non-compliance; another $78.4 million was further invested in Budget 2012.?? Read more »

Farage a hypocrite just like Hager

What is it with finger pointing, sanctimonious politicians…always get caught pants down doing what they rail against. Graeme Capill was a god-bothering christian who demonised kiddy-fiddlers, turns out he was one too. Nicky Hager talks about secret trusts and hiding assets yet does the same thing. Now Nigel Farage has been?caught?pants down.

Nigel Farage last night admitted he opened an? offshore trust fund to slash his tax bill.

The leader of the UK Independence Party, who has been outspoken critic of tax avoidance, set up a scheme on the Isle of Man for ?inheritance purposes?.

But he claimed he never used it saying: ?It was a mistake. I?m not rich enough.?

Mr Farage told fellow members of the European Parliament last month that they had a ?common enemy ? rich people, successful companies evading tax?.? Read more »