Christchurch building company boss gets 14 months jail for tax evasion

By on November 1, 2017
Christchurch building company boss gets 14 months jail for tax evasion

A building company boss has been jailed for 14 months for misappropriating nearly $370,000 in tax deductions from employees' wages.

Director John Edward Clancy, 52, was sentenced on Tuesday in Christchurch District Court on 12 tax evasion charges relating to company Hanguk‚Äč Business Investments One (formerly Global Renovations Canterbury).

Over a 12 month period the construction company head failed to pass on to Inland Revenue most of the deductions made from workers' wages, including PAYE tax, KiwiSaver contributions, and student loan repayments.

David Udy, Inland Revenue's Group Manager Collections, said Clancy showed utter contempt for the tax system, keeping his businesses afloat by paying trade creditors with money that should have gone to IRD.

Read the full article > Business Day - stuff.co.nz



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