how the tax-haven industry stopped the inland revenue inquiry into their industry (hint: todd mclay/john key) (+ op-ed..)

The briefing note explained how the sector attracted ‘high wealth families’ as clients who were attracted by New Zealand’s political stability – incorruptable public service and particularly our ‘respect for privacy and commercial confidentiality’.

New Zealand was said to be competing for this business with similar zero-tax structures in Singapore – Israel – Hong Kong – Malta – the Netherlands and the United Kingdom and United States.

But the industry expressed concerns that even a proposal to tinker with tax rules for the sector could gut the industry as clients lose faith and take flight.

‘This would likely undermine the trust and confidence built up over many years whereby high wealth families have come to trust New Zealand as a safe country’ the note said of making a proposal public.

The briefing blamed the interest in their business by Inland Revenue on ‘confusion in the tax officials’ minds’ who were conflating their benign provision of ‘family planning and succession services’ with the international abuse of shell companies and corporate profit-shifting.

‘A narrow focus on taxation does not do justice to the country nor the trust industry’ the note urged.

A draft agenda for the meeting circulated by OliverShaw stated in bold ‘there is no need for a general public review’ and the industry sought assurance from the minister that even if one were to be announced it would explicitly rule out making the structures subject to taxation.

Inland Revenue officials prepared a Q&A for McClay for this meeting.

The entirety of this document is blacked out in order to ‘protect the confidentiality of advice’.

While what is said during that meeting was not disclosed a representative of OliverShaw wrote some months later they were ‘very pleased with their meeting with the minister’.

In total three such meetings between the minister and private sector trust providers took place.

Following them – in May – Inland Revenue policy manager Carmel Peters broke the news to her colleagues that the sector wouldn’t be put under the microscope.

‘Our minister has decided that a review of foreign trusts will not be included on the current tax policy work programme owing to wider government priorities’.

(cont..)

(ed:..this is how corruption works in new zealand..influence-peddling and mutual back-scratching..

..this tory government is ‘owned’ by so many different sectors..the tax haven industry is just one of a long list..(think alcohol-pushers/sugar-pushers/the gambling industry vultures/the loanshark-scum/the roading lobby..it just goes on and on….)

no wonder key seems to do nothing about everything that matters..the special-interests who he works for have too much at stake/skin in the game..

..and he sure as hell isn’t working in the interests of the average new zealander..that much is a clear as a bell…

..i wonder when the public will wake up…and realise this..?

..and react appropriately..?

..what more will it take..?..

..or is this one enough..?..)

Source: World famous, but secret in NZ – Business – NZ Herald News

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john boehner says ted cruz is ‘lucifer’..(+op-ed..)

John Boehner the former House speaker has called presidential candidate Ted Cruz ‘Lucifer in the flesh’ in remarks that expose the depth of discontent within the Republican party.

‘Lucifer in the flesh’ the former speaker said.

‘I have Democrat friends and Republican friends.

I get along with almost everyone but I have never worked with a more miserable son of a bitch in my life’.

(cont..)

(ed:..given what (i think) is most revealing cruz-quote..that he wants to nuke the middle east..to in his own words ‘make the desert sands glow’…i would agree with boehner that cruz is one evil fucked up individual..

..and as scary as the prospect of trump as president is/may be..cruz as president  far far worse..

..cruz is almost supporting evidence for the repitilian-shapeshifter theory/school of thought…)

Source: Ted Cruz is ‘Lucifer in the flesh’, says former speaker John Boehner | US news | The Guardian

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vw and shell prove what complete and utter bastards they are..

VW and Shell have united to try to block Europe’s push for electric cars and more efficient cars – saying biofuels should be at heart of efforts to green the industry instead.

The EU is planning two new fuel efficiency targets for 2025 and 2030 to help meet promises made at the Paris climate summit last December.

But executives from the two industrial giants launched a study on Wednesday night proposing greater use of biofuels – CO2 car labelling – and the EU’s emissions trading system (ETS) instead.

In reality such a package would involve the end of meaningful new regulatory action on car emissions for more than a decade EU sources say.

(cont..)

Source: VW and Shell try to block EU push for electric cars | Environment | The Guardian

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panama-papers: john keys’ personal lawyer is a mainstay of the new zealand tax-haven industry/scam..

Revelations John Key’s personal lawyer lobbied a minister about a potential crackdown on the lucrative foreign trust industry has sparked calls from the Labour Party for an inquiry into the sector to be widened.

Ken Whitney the executive director of boutique trust specialist Antipodes wrote to then-Minister for Revenue Todd McClay on December 3, 2014 over concerns Inland Revenue were sizing up the sector.

‘We are concerned that there appears to be a sudden change of view by the IRD in respect of their previous support for the industry.

I have spoken to the Prime Minister about this and he advised that the Government has no plans to change the status of the foreign trust regime’ Mr Whitney wrote in an email.

‘The PM asked me to contact you to arrange a meeting at your convenience with a small group of industry leaders who are keen to engage to explain how the regime works and the benefits to NZ of an industry which has been painstakingly built up over the last 25 years or so’.

Labour Party finance spokesman Grant Robertson said Mr Whitney’s appearance leading the lobbying efforts for offshore finance specialists showed the appointment of tax expert John Shewan review of the sector was ‘wholly inadequate’.

‘It needs to be led by a judge above and beyond this industry for the sake of New Zealand’s reputation and the fairness of our tax system.

We need an independent inquiry’ he said.

New Zealand’s trust regime recently made international headlines with the leak of the Panama Papers revealing the abuse of trust structures internationally by those seeking to launder money or avoid tax.

(cont..)

Source: The Antipodes email: John Key, his lawyer and foreign trusts – Business – NZ Herald News

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ten solutions to the auckland housing-problem..

The Herald ‘s Home Truths series has highlighted the serious problems that make our housing unaffordable – but also pointed to some solutions.

3. Try again on the ‘compact city’

The council’s vision (effectively more townhouses – terraced houses and apartments for higher density living) suffered a big PR setback in November when the Herald revealed councillors had secretly switched another 20,000 properties into a proposed medium density zone – with no right of reply for affected home owners.

Intensification supporters such as Generation Zero rightly argued that the backlash and subsequent council backdown showed the disproportionate power of the city’s older property owners against less wealthy younger renters.

But the council still needs to find a way to sweeten the prospect of three-storey apartments across the city.

As councillor Sir John Walker put it: ‘They might not be very high but I wouldn’t want to live next door to one’.

Imagine buying all your groceries from the local dairy instead of a supermarket.

That’s roughly the state of the New Zealand building industry – too many one-man operators who don’t have sufficient building knowledge or economies of scale to tackle the three-storey apartments we need.

Individual builders also lack bargaining power with building product suppliers, which may explain why the Productivity Commission found in 2012 that New Zealand prices for 10 common items were 55 per cent more expensive than in Australia.

The biggest obstacle is consumer resistance as mass-produced homes from a factory still have an image problem.

But if we got enough big projects off the ground (Labour’s KiwiBuild plan to build 100,000 homes over 10 years is one option) larger firms could start producing cheaper homes on a grand scale.

(cont..)

Source: Home Truths: Ten big ideas to tackle the housing crisis – National – NZ Herald News

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alcohol-pushers are responsible for the carnage their product causes..

Research has found that alcohol increases aggression more than any other psychoactive substance and thus the risk of violence.

Perpetrators of violence tend to be heavy drinkers and more than 40 per cent of alcohol consumed in New Zealand is consumed on heavy drinking occasions.

Victims of violence are also highly likely to misuse alcohol and other drugs during their lifetime (often using alcohol as a coping mechanism).

National and international studies show there is a significant relationship between the concentration of alcohol outlets and rates of violence with higher numbers of outlets in a geographic area resulting in higher rates of violence. Increases in retail alcohol sales and longer trading hours also statistically increase the risk of alcohol-related violence.

Perpetrators who have been drinking are responsible for more than 62,000 physical assaults and 10,000 sexual assaults every year.

From another perspective in the 10 weeks following the introduction of new laws requiring all on-licence outlets to be closed by 4am and off-licences by 11pm New Zealand police reported an 18 per cent drop in serious assaults causing injury and public disorder offences compared to the same period for the previous three years across the country.

A recent report from Australia showed lockout laws and alcohol restrictions in Sydney had cut assaults by 40 per cent.

Ms Jeram may want to shift the responsibility on to consumers but it’s past time for the alcohol industry and associated business interests to acknowledge that the evidence is pretty clear.

(cont..)

Source: Rebecca Williams: Alcohol vendors share blame for drink-related harm – Opinion – NZ Herald News

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ed:..this is how corruption works in new zealand..(+op-ed..)


John Key’s personal lawyer cited a conversation with the Prime Minister when lobbying a Minister about a potential crackdown on the lucrative foreign trust industry.

Ken Whitney the executive director of boutique trust specialist Antipodes wrote to then-Minister for Revenue Todd McClay on December 3, 2014 over concerns Inland Revenue were sizing up the sector.

(cont..)

(ed:..corruption in new zealand is all about peddling influence..and ‘looking after your mates’..

..this one would appear to be a mix of both those..a twofer…

..and that todd mcclay is up to his eyeballs in this one hardly comes as a surprise…eh..?

..i understand mcclay had to have a special ‘bent’ bed tailor-made made for himself..he kept hanging over the edge of normal beds…

..john key uses the same bed-maker..

Source: The Antipodes email: John Key, his lawyer and foreign trusts – Business – NZ Herald News

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