Last chance for Penny and Hooper-style tax dodgers, says IRD

Wed, 06 Mar 2013

March 6 (BusinessDesk) - Fresh from its big win in the Court of Appeal on the use of Optional Convertible Notes to avoid corporate tax, the Inland Revenue Department is warning individual taxpayers who have reduced their tax through income diversion schemes to come forward by March 31. By making a voluntary disclosure and reordering their tax liabilities within the concession period, taxpayers will avoid potential tax investigation for avoidance of the kind found to have been practiced by Christchurch orthopaedic surgeons. Ian Penny and Gary...

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