Prime Minister John Key declares deposit in company specialising in foreign trusts
Prime Minister John Key has declared a short-term deposit in a trustee company which specialises in foreign trusts and provides legal services for Mr Key.
The short term deposit in the Antipodes Trust Group was included in his entry for debtors in the Register of Pecuniary Interests which has just been released. There are no overseas trusts listed in his entry.
On its website home page, Antipodes Trust Group says New Zealand offers a “tax neutral environment for New Zealand based foreign trusts which are a well-established vehicle for carefully managing the inter-generational transfer of wealth”.
It points to the tax-free benefits, as well as the lack of inheritance taxes and laws that protect client confidentiality and “limited” reporting requirements which mean the identities of settler and beneficiaries do not need to be disclosed.
surely inconceivable now that the PM can resist pressure to publish tax return https://t.co/le1lh6PRcR
— Toby Manhire (@toby_etc) April 12, 2016