Category Archives: CFC

Tax adviser liability – Nodding client is no excuse

The High Court in New Zealand in Jones v WHK Sherwin Chan & Walshe HC Wellington [2011] NZHC has awarded $4.29m against a taxpayer’s former accountants (SCW) for failing to advise on the implications of the CFC rules when restructuring the business of their client. See Bob Jones wins $ 4m over bad tax advice. Briefly, an Australian based company, Pamiers Pty Ltd lent money to a New Zealand based company Robert Jones Holdings Ltd (RJHL), both controlled by the … Continue reading

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