THE number of companies going to the wall surged last year amid a Tax Office crackdown on overdue debts, figures show.

Read the full article on line >>> The Sydney Morning Herald – smh.com.au

Nanda Gopal Santhanam Ponnuchetty, was sentenced in the Christchurch District Court to four months’ community detention and 200 hours’ community work.

He had previously admitted 55 charges of aiding and abetting his company, WINE REACH SERVICES LIMITED (Struck Off 26 Jun 2010), to withhold PAYE deductions owed to Inland Revenue.

Read the full article on line >>> The Marlborough Express

Tax evasion totalling $435,000 led to a jail term of two years eight months being imposed on Christchurch company owner Daryl Philip Evans today.

Read the full article on line >>> NZ Herald – nzherald.co.nz

Tauranga based company director, Kalym Cameron Lipsey, aged 29, has been sentenced to 18 months in prison and ordered to pay approximately $30,000 in reparations for tax evasion.

Read the ful article on line >>> scoop.co.nz

Auckland-based builder, Mate Jukich, has been sentenced to two-and-a-half years in prison after being found guilty of 23 charges of tax evasion.

Read the full article on line >>> NZ Herald – nzherald.co.nz

A former Wellington restaurant owner has been sentenced to five months home detention and 200 hours of community work for filing false Income Tax and GST returns and evading tax.

Darrell Earl Antonopoulos plead guilty to three charges of aiding or abetting his company, WHONERE HOLDINGS LIMITED, trading as La Casa Pasta restaurant, to provide false Income Tax returns and 24 charges of providing false GST returns to Inland Revenue with the intention of evading tax. MrAntonopoulos was charged under the Tax Administration Act.

“Mr Antonopoulos admitted to knowing his tax obligations yet deliberately filed false Income Tax and GST returns on behalf of his company over a four year period and dealt in cash,” Assurance Manager Investigations, Tony Morris, said.

“An examination of the restaurant’s daily sales receipts and bank deposits showed that a significant number of customers were paying in cash. The company did not disclose any of these sales and MrAntonopoulos diverted that cash for his own benefit”.

Mr Morris said that an initial analysis of Mr Antonopoulos’ financial records showed that the restaurant’s gross profits were low when compared to other similar businesses.

“Benchmarking the performance of businesses within the same sector enables Inland Revenue to identify taxpayers likely to be suppressing income.

“Once identified, Inland Revenue has a number of techniques and tools at its disposal to verify whether cash sales have been omitted and to quantify that omission.

“Businesses and individuals doing the right thing can be confident that Inland Revenue will detect those evading their obligations. Those cheating on their taxes should be aware that Inland Revenue has allocated substantial resources and is using increasingly sophisticated methods to detect tax evasion and will take action against serious non-compliance.”

Inland Revenue has recovered $361,000 from Mr Antonopoulos and just over $88,600 remains outstanding. The restaurant, La Casa Pasta, has been sold and is under new management.

For further information:
David G. Miller
(04) 890 1743
(029) 890 1743
david.miller@ird.govt.nz

Source: Inland Revenue Media Release

Mao Bar’s former owner has admitted not paying more than $110,000 tax during his time in charge of the well-known Palmerston North eatery.

In the Palmerston North District Court yesterday, Richard Wayne Soper, 52, pleaded guilty to 55 tax evasion charges dating from October 1, 2009, to October 31, 2010.

Read the full article on line >>> Manawatu Standard

Small-business owners beware – last week’s Supreme Court decision on the Christchurch surgeons who used trusts to avoid tax has implications for you.

Read the full article on line >>> NZ Herald – nzherald.co.nz

An Auckland based self-employed builder has been sentenced to four months home detention and 150 hours community service after pleading guilty to tax evasion.

John Jefferson Lucy, aged 41, appeared in the Waitakere District Court today for sentencing on 267 counts of providing false information in order to evade tax and 33 charges of failing to file GST and Income Tax returns. The outstanding amount is just over $71,000.

Investigations Manager, Assurance, Jonathan Matthews, said that this case is another reminder as to why businesses and individuals need to comply with the tax rules.

“Mr Lucy knew that he was required to file GST and Income Tax returns and he was compliant prior to 2003.

“However, he made the decision to operate outside of the rules by charging GST for his services using an invalid number and deliberately withholding what he owed to Inland Revenue.”

Mr Matthews said that defendant charged GST when invoicing those he worked for between September 2004 and May 2009 and he also failed to provide his personal Income tax returns between March 2005 and July 2009.

“This case also illustrates that it not acceptable to trade through unregistered companies. Mr Lucy used an entity called J & N Construction Limited, which was not registered, and he also issued invoices in the name of another entity in which he had no control.

“As a result, he ended up in court and this is a warning to others who think they can gain an advantage by breaking the rules.

“Inland Revenue is working to identify those who do not take the correct steps when going into business. We have placed significant resources into identifying people operating outside the tax system and we will take appropriate action.

“Our advice is that if you are not voluntarily complying then consider the implications and talk to us or your tax advisor before it is too late.”

For further information:
David G. Miller
(04) 890 1743
(029) 890 1743
david.miller@ird.govt.nz

Source: Inland Revenue Media Release

Last month a Tauranga man by the name of James Allen Kent was sentenced to 12 months’ home detention with his sick wife after stealing half a million dollars.

Read the full article on line >>> NZHerald – nzherald.co.nz