The New Zealand Supreme Court has sided with the tax department in its judgment on a landmark tax avoidance case involving two Christchurch surgeons who used company structures and family trusts to artificially lower their salaries to avoid the top personal income tax rate.
The unanimous decision of the bench of five Supreme Court judges, led by Chief Justice Sian Elias, agreed with the Court of Appeal that "income derived from personal exertion should belong in its appropriate taxation band and should not be inappropriately diverted away."
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