TOM(the other Molloy)

I thought I would share a fraud that I have come upon.  The payroll man for an outfit that employed him and 9 others.  The clever cnut was on a M tax rate and everything on the computerised payroll system went through magically and balanced to the last cent.  But on the IR 348 that went to the Tax Dept the payroll man was shown as SH code, that is secondary tax at the high rate.  The IR348 was never ever photocopied, the computersystem printouts were kept on file.  But what the cnut had done was understate each employee's PAYE deductions and add tax onto his own line on the IR348 form.  All the totals added up to the last cent.  He left the firm in May 2014 and had been working in Europe for some time before it all came to light.  When the other employees went to get a tax refund they all owed money to the Tax Man!  The cnut had got a very juicy refund and pissed off.  The Tax Dept were very reticent about making copies of the IR348 available to the company.  It was a torturous task to work out exactly what the cnut had done.  The time spent on the phone, on emails and on correspondence with the Tax Dept trying to get copies of those forms from the Tax Dept would have been debilitating to anybody but a determined accountant.  After it was all sorted out the boss considered it a cunning stunt by a stunning................payroll clerk.

Dear oh dear. A brave move and a cunning one. The behaviour of some people is disgraceful.

And the IRD behaviour doesn't surprise me either. All good when they want info from you....

Thanks Brian. Yes, I agree. Foxton probably likewise. Small fish and we don't own the land but there's half a mil or so in the bank. That will go to build a community building with help from Lotteries,  instead of a new stand so there'll be nothing left for the wankers to take. The community and other equestrian objectives in the constitution have sadly overtaken the racing ones to avoid the plunder. I'm hopeful that Avondale is smart enough to likewise outwit their cunning plans. What a waste of time and energy though and so sad that they have focused us on preserving community assets for the community rather than the investment in racing that is so needed.

Cheers,

Brent

Hi Brian:

I'd forgotten about this. It didn't come from me. See the final section.

Brent

Bell Gully Note Club Assets.pdf

Thanks Brent

That is an interesting one - not sure I was aware they had consulted Bell Gully but being lawyers and human nature Bell Gully would always tell the client what hey want to hear(I am guilty of that myself)

There is another way to skin the cat though.  Another recent proclamation that 'must be obeyed' from NZTR is that Club Financial Statements MUST be audited by a Chartered Accountant(Member of CAANZ).  I am one myself and actually did auditing until about ten years ago and that is how I originally linked up with the RJC.  But nobody here on the Coast does it any more and it is obviously horrendously expensive.

Again I had said they could get stuffed earning me another argument with our Secretary.  The threat is removal of our racing permit/date.

So we may not voluntarily relinquish our status it may be taken from us at which point , from where I sit, we are no longer a racing club.

Interesting though that the draft constitution ignores that CAANZ Audit requirement that they were so adamant had to be followed not two months ago.

They really have no idea and, to me, the one who is the most hopeless yet dangerous of the lot is the one Bell Gully addressed that report to.  He was a failure at TRAC, has a history of idiot proclamations about what must be done and  needs, in my opinion, to be removed just as urgently as Purcell.

Thanks for that though - I shall study it in detail.

Brian Molloy

Hi Brian, 

understood and duly noted! Good luck with whatever path you choose.

Agree re wankers in Petone, the farce is getting worse, self agenda aplenty there.

Cheers and best,

Barry Wallace