One of the largest tax cases in New Zealand legal history, worth $226 million, is currently being heard in Wellington's High Court, and involves participants in the 'Actonz' investment scheme and the Inland Revenue.
The case focuses on an investment scheme run by Wellington-based businessman Scott Anderson, who along with the 226 investors, acquired computer software at what the Inland Revenue considers was an inflated price. The investors then set about claiming exaggerated depreciation allowances on the software in addition to claiming GST benefits.
The case was beset by controversy in the week leading up to the hearing when the presiding judge, Justice John Wild, was asked to step down from the case by the plaintiffs. This was because it was revealed that he had previously acted for Scott Anderson before being appointed to the bench, in a case known as the Exicom transaction, which has connections to the current case.
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