http://www.whaleoil.co.nz/?q=content/labour039s-secret-trust#comment-15498
This morning in talking about Winston First secret trusts DPF also alluded to Labour’s secret trust and their non-declaration of income and expenditure.
Coincidentally I have been looking into details about this trust and though not complete I will release what I have found so far.
Labour Party Properties Incorporated (LPP) appears to be an Incorporated Society set up to own Labours substantial property assets. So while they cry poor they in fact have millions of dollars of property.
According to the filed annual accounts they have declared no income and no expenditure for at least the last two years. The LPP also owns the following properties as nominee on behalf of the New Zealand Labour Party.
Lyon Memorial Hall, ANZAC Street, Takapuna
7 Fulton Cresent, Otara (CV $230,000)
1/332 Massey Road, Mangere (CV $280,000)
Social Hall, Domain Avenue, Temuka (CV $105,000)
4 Regent Road, Dunedin (CV $440,000)
Fraser Body House, 160 Willis Street, Wellington (CV $630,000)
203 Warren Street North, Hastings (CV $255,000)
651 Ferry Road, Christchurch (CV $130,000)
1 Pharazyn Street, Fielding (CV $380,000)
300 Great North Road, Te Atatu (CV $405,000)
147 Mt Smart Road, Onehunga, Auckland (CV $470,000)
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1 comment:
The question, I guess, is whether any are rented out. If so there'd be income. If not then they're supposedly just sitting there making no money. But no outgoings is a worry... don't they do any maintenance? Not even clean the place? Are they letting them fall down round their ears?! Bit like the NZ economy, then... :-D
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