Company fined
A liquidity problem caused by industrial action on the new Bank of New Zealand building at Wellington was given as a reason in the District Court yesterday for the Canterbury Stone Company’s, Ltd, failure to account for tax deductions.
The company and its managing director, Mr Roger James Douglas Graham, pleaded guilty to charges of failing to account for deductions totalling $30,566 from employees’ wages, in June and July of last year. The Court was told that the defendant company was involved in the construction of the new bank building which was the subject of
industrial problems. Its failure to account for these deductions was largely due to the failure of its clients to meet their obligations to it.
Counsel for the company, Ms I. Sherman, said the company has paid $2OOO penalty tax as a result. Convicting and fining the company $75 on each charge and Mr Graham $4O on each charge, Judge Hattaway said he had taken account of a letter from the company’s accountant which showed the company had been in difficulty at that time.
Mr A. M. Mclntosh appeared for the Inland Revenue Department.
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Press, 10 March 1984, Page 4
Word Count
190Company fined Press, 10 March 1984, Page 4
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