24 Dec 1999
Henricksen v Accident Rehabilitation and Compensation Insurance Corporation
- Citation
- [1999] NZACC 386
- Court
- District Court
Given the company practice of allocating salary only when profit existed, the appellant's drawings were not treated or declared as salary for tax/PAYE purposes and were consistent with a reduction of capital, it was open to the Corporation to determine that reasonable remuneration under Regulation 10 was nil; the Tribunal's exercise of discretion was lawful and the appeal is dismissed.