LLUN v CofT – AAT finds that a string of tax haven transactions created tax liabilities – Funding for Deregistered Vanuatu company; NZ capital gain; Rollover of NZ Welfare Fund into Samoan Super Fund, including a ‘guest appearance’ by Hua Wang Bank Berhad

The AAT has found against a Mr Taxpayer and Mrs Taxpayer on a range of issues traversing many of the world’s tax havens, including: Samoa and the now notorious Hua Wang Bank Berhad. Before trying to relate this story, the following ‘preliminary observations’ of Deputy President Frost, might set the scene. 94. One remarkable aspect of…