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Surgeons caught out in family trust tax scam

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Thu, 25 Aug 2011 7:17a.m.

Ian Penny and Gary Hooper were found to have cut their salaries below market standards by as much as 80 percent

Ian Penny and Gary Hooper were found to have cut their salaries below market standards by as much as 80 percent

There are calls for business owners to double check their tax status as two Christchurch surgeons are ordered to pay tens of thousands of dollars to Inland Revenue.

Ian Penny and Gary Hooper were found to have cut their salaries below market standards by as much as 80 percent while pushing profits to their family trusts.

PricewaterhouseCoopers chairman John Shewan says the Supreme Court decision could create doubt for a number of business owners.

Mr Shewan says potentially the decision could have far reaching impacts for farmers and small businesses all over the country who use trusts.

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Comments

25 Aug 2011 06:01p.m.

Steve wrote:

@ nurse hamilton. Theft charges you say. It may be worth mentioning that they didnt actually break any laws. The IRD realises that it has a left open a loophole which folk exploit. Not just these two surgeons but many many self employed high earners. It then goes after those that use the loophole in a public way. Hey - dont you use every legal way you can to avoid paying more tax than you have to?

25 Aug 2011 01:41p.m.

nurse hamilton wrote:

plain and simple, it's theft and charges must be laid.
surgeons or grave diggers, all the same , and must face the same music. suspend the alleged crooks ,if not why not.
I pay for an operation with these guys I feel I have been robbed and cheated. no room for thieves in the health sector.

25 Aug 2011 10:06a.m.

Paora wrote:

They might go to Australia Pete. But only after they pay their tax bill which will fund another two surgeons to replace them. ;~)

25 Aug 2011 07:46a.m.

Pete wrote:

Oh well, guess thats 2 more doctors heading for Australia...