So you think YOUR tax bill is big??

[Leftette]

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11272068

$400 million at $1000 a week = 7692.3 years. I like that 79 yo's optimism.

[jimO]

they will get it out of his estate when he carks it, if he still has it

[Perry]

What realistic chance is there of collecting such a figure,
unless the old guy has lots of high-value assets? Seems
to me that a little pragmatism is needed. Especially when
one considers the reverse, like the hapless Willis'.

[elguapo]

they will get it out of his estate when he carks it, if he still has it

Nothing is certain except death and taxes as they say.....

[sidinz]

they will get it out of his estate when he carks it, if he still has it

Nah, he would have it well protected in a complicated web of Trusts, set up long ago.

[donna]

there was a follow up article on him on NZH - saying the next step for the IRD is bankruptcy proceedings.

cheers,

Donna

[Chen]

John George Russell 400 million tax case

Hi guys,
I am new to this Forum and hope everyone is having a great day!

Has any one been following John Russell tax case? would be very interested to know what IRD's possible next step is. In particular, can IRD claim those assets under his family trust? If yes, under what conditions?

Any response is greatly appreciated!

[speights boy]

Is that you Mai ?

[Chen]

No, I am sorry.

[Leftette]

He's being facetious, Mai. Ignore him.

[flyernzl]

Many, many moons ago Russell used to employ Michael Fay.