FALSE RETURNS OF INCOME
Company Fined £660 (New Zealand Press Association) WELLINGTON, September 23. A total of £660 in fines, together with £35 14s in solicitors’ fees and £l3 10s in costs, was imposed by Mr J. R. Drummond, S.M., in the Lower Hutt Magistrate’s Court today on David Daily, Ltd. The company pleaded guilty to nine charges of making false returns of income. The charges covered the years 1948 to 1956 and the amount of tax evaded was £6743 17s lid, said Mr J. D. Murray, who represented the Inland Revenue Department. He said the company’s income for the period had been returned as £41,348 14s, but was assessed at £55,913 5s lid.
He said Daily started in business in 1939 and created a trust for his children, who were now substantial shareholders. His tax returns were correctly prepared in so far as they were disclosed by Daily to his accountant. However, a number of business cheques were paid into Daily’s private bank account instead of that of the company, and this led to accretion of assets by Daily and his wife.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19580924.2.82
Bibliographic details
Press, Volume XCVII, Issue 28699, 24 September 1958, Page 10
Word Count
183FALSE RETURNS OF INCOME Press, Volume XCVII, Issue 28699, 24 September 1958, Page 10
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.