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New Zealand

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Tax avoidance: shift of profits from a profitable entity to a loss-making one

In the New Zealand case of Honk Land Trustees Ltd v Commissioner of Inland Revenue [2017] NZCA 54; BC201760307, the Court of Appeal considered a tax avoidance scheme relating to a shift of profits from a profitable entity to a loss-making one. The appellant (HLT) is the trustee of the Honk Land Trust (Trust), which owned Honk Land Group Limited. Honk Land Group Limited in turn owned various other companies, including Honk Land Limited (HLL).

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A Novel Argument

A novel argument was raised by the taxpayer in the New Zealand case of CIR v Michael Hill Finance (NZ) Limited [2016] NZCA 276 where the taxpayer alleged that the Commissioner has a duty to act consistently between taxpayers.

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