David McLay Barrister Qualifications LLB (Hons), MCA, Victoria University of Wellington LLM, University of Michigan  Admitted 1981 New Zealand   Contact Details Direct Phone: +64 4 914 1054 Mobile:          +64 21 490 939 Fax:              +64 4 473 3179 Email:           d.mclay@barristerscomm.com

David McLay

David McLay specialises in corporate income tax, Goods and Services Tax, and tax litigation.

David is well-known for:

• His broad experience in taxation matters affecting many different types of industries and taxpayers;
  
• His ability to provide effective solutions in an efficient and timely manner;
• His effective negotiating style.

David has provided taxation advice on a wide range of transactions, including mergers and acquisitions, international capital markets transactions and project financing.  He has a very broad experience in New Zealand taxation matters.

Recent Experience

David has recently advised a number of Maori iwi on Treaty settlements and the establishment of post-settlement governance entities, including the Central North Island Iwi Collective on the CNI Forests Settlement in 2008 (involving over $400m) and Te Kotahi a Tuhoe Trust in relation to the establishment of the Tuhoe Establishment Trust in 2009.

He has significant experience in acting for clients in relation to proposed tax legislation, and has appeared before the Finance and Expenditure Select Committee on numerous occasions, as well as other Parliamentary Select Committees.  In 2009, David acted as a specialist advisor to the Finance and Expenditure Select Committee in relation to the July 2008 Tax Bill.

Tax Disputes

David is very experienced in handling tax disputes and is well known for his ability to resolve tax disputes without resort to litigation.  He has appeared as counsel in about 40 tax cases at all levels from the Privy Council to the Taxation Review Authority.  He appeared as junior counsel in the Privy Council in Rangatira Limited v CIR (gains from share sales).  He has appeared as lead counsel in a number of Court of Appeal cases, including:
 
    Shell NZ Holding Co Limited v CIR (GST – tax invoices on importation)
    CIR v Coveney (GST – farm houses)
    Hawkes’ Bay Power Distribution Limited v CIR (tax accounting)
 
Trusts and Charities

David also has an extensive advisory practice in relation to trusts for non-residents and overseas trust companies.  He provides trust law and taxation advice for these clients.

David has advised a number of significant charities and other non-profit organisations on a variety of structuring and restructuring issues.  He is a member of the Government Relations Committee of Philanthropy New Zealand, which represents the interests of grant-making charitable trusts.
 
Other Experiences

David speaks overseas on New Zealand tax matters on a regular basis, as well as at leading New Zealand conferences.  He has also written extensively on New Zealand tax issues.  He is the Consultant Editor for CCH’s New Zealand Tax Planning Report and a member of the Editorial Board for CCH’s New Zealand Income Tax Law and Practice.  David is listed by Chambers Global as "a notable tax practitioner".

David is a member of the New Zealand Branch Committee of the International Fiscal Association.  He was a member of the Taxation Committee of the New Zealand Law Society from 2005 to 2009.  He is a member of the Society of Trust and Estate Practitioners.
 
David is Chair of the Rewrite Advisory Panel having been appointed in June 2008 by the Minister of Revenue, the Hon Peter Dunne, to replace Sir Ivor Richardson (former President of the Court of Appeal).  The Panel supervises the rewrite of the Income Tax Act and considers submissions about unintended legislative changes.

David has been a non-executive director of Covenant Trustee Company Limited, which is a statutory supervisor and debt security trustee under the Securities Act 1978, since March 2007.  He has been a member of the Advisory Board of Tax Management New Zealand Limited since 2003.

Before commencing practice as a barrister, David was a tax partner at Bell Gully from 1986 until early 2003. He has also been a Lecturer in the Accountancy Department at Victoria University of Wellington.

Publications