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Inland Revenue steps up tax debt crackdown

“We have been encouraging customers to access the range of Government Covid support packages available.
“In a small number of cases, and as a last resort, Inland Revenue has used its liquidation and bankruptcy activity to address instances of significant non-compliance or where there has been business failure.”
She said there was a lag effect, as well as Inland Revenue’s normal debt collection activities.
Auckland Chamber of Commerce chief executive Michael Barnett said the grace period should be extended.
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Michael Barnett says small businesses are fragile.
“When the grace period was first introduced, most of us thought the window for Covid might not be as long as it has turned out to be. Why they did it, is still exactly the same.” ....

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Creditors roll liquidator on Nido-linked building firm

He said Waterstone had a record of litigating claims if needed, and there were a number of matters to be investigated, including whether there were inter-company payments or reckless trading.
Vijay was the construction company tasked with building Nido, a $60m, 27,000 square metre projected which was aspired to be New Zealand s biggest retail outlet.
It opened incomplete in June shortly after the lifting of the Level 4 lockdown and the first liquidators’ report said Vijay’s director was unable to raise more funding to finish the work.
Meanwhile, Nido’s receivers Kare Johnstone and Conor McElhinney said the store was still trading and stock had been discounted while the search for a buyer was underway. About 100 staff were waiting to hear about their future. ....

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