21 Oct 2015
STAITHES DRIVE DEVELOPMENT LTD v COMMISSIONER OF INLAND REVENUE [2015] NZHC 2593
- Citation
- [2015] NZHC 2593
- Court
- High Court
Legal voting interests are determined by legal ownership as recorded (registered holder/nominee) and therefore the same group legally held the requisite voting interests in both companies making them associated under s 2A(1)(a)(i); s 2A(1)(a)(iii) does not extend to the type of factual control alleged; alternatively if not associated the arrangement constituted tax avoidance under s 76 and supported imposition of shortfall penalties under the TAA.