Geoffrey Cone Debunks the Popular Myth of New Zealand as a Tax Haven

At first sight, New Zealand exudes the aura of a tax haven to most individuals. The panoramic views of exotic destinations are too enticing to ignore. However, it is high time to address such myths. The OECD recently released a list of tax havens in the world. Surprisingly, New Zealand does not feature in the list.

Geoffrey Cone, a prominent tax attorney, demystifies this popular belief. Tax havens are characterized by several discrepancies. For instance, they possess inadequate legislation regarding exchange of information. In addition, government institutions fail to conduct transparency within official transactions. Such systems fail to impose a tax on foreign income.

A close analysis of the country’s financial sector reveals a different outcome. For starters, the state does not possess any of the above markers associated with tax havens. New Zealand prides itself in implementing stringent laws regarding foreign trusts. Such laws have made the country a role model to neighboring States. For instance, local recipients of foreign trusts are required to submit a Foreign Trust Disclosure Form. This written agreement is presented for the purpose of filing tax on income received.

How the System Works

Once issued with a disclosure form, recipients are obliged to provide details of distribution and settlements. Moreover, they ought to submit particulars of the trust’s liabilities and assets. It is advisable to keep a record of the accounting system for future reference. Moreover, such details are recorded in English and stored in the State. Failure to abide by these laws attracts hefty penalties.

The State possesses 39 double tax contracts. To most, these may seem as bloated legislation. However, such agreements aid in the prevention of fraud. To achieve this, such contracts reduce tax obstacles experienced in investments.

New Zealand has collaborated with various nations to implement tax reforms. Such improvements strengthen double tax agreements on foreign trusts. Furthermore, the country participated in a multilateral Convention on Mutual Administrative Assistance in Tax Matters. Several factors have stimulated an increase in foreign trusts recorded in the country. For instance, political stability, a safe business environment and strict laws have contributed to such records.

Geoffrey Cone in Brief

Mr. Cone is a reputable tax and trust counselor in New Zealand. He serves as the Managing Partner of Cone Marshall Ltd. Based in Auckland, the firm specializing in offering tax services to high net worth individuals and Fortune 500 companies. The company is staffed by a team of competent professionals that promote efficient service delivery to satisfy clients.

Mr. Cone is a specialist in financial planning in the State. He offers his services to clients in Spain, Italy and Latin America. During his free time, Geoffrey loves to unwind at the Cones Camp with his wife. The 2.5 ha property is an excellent retreat coupled with a serene environment and a luxurious house.

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Dr. Avi Weisfogel: Advancing Sleep Apnea Treatment

According to a recent online article on, medical professionals have pointed out the increased awareness of the negative effects of sleep apnea. The article mentions that studies show a correlation between sleep apnea and diseases like stroke, cardiovascular disease, and diabetes. Since these studies highlight such risks, there is an even greater need to find treatments for sleep apnea, says the article. Dr. Avi Weisfogel, founder of Dental Sleep Masters, is a well-known expert in sleep disorders and treatments. He has done a lot in sleep research, says the article.

He leads the way for diagnosis and treatment of sleep apnea. The article says that at least 90% of the population have undiagnosed apnea. Since it is so imperative that people know about the consequences of this disorder, Dr. Weisfogel and his team are working tirelessly to inform the public.

Dental Sleep Masters has created sleep labs that partner primary and secondary care physicians with certified sleep doctors, the article states. This model opens more opportunity in the medical community to provide better care for their patients. Doctors and dentists have joined together to help those who suffer from sleep apnea. As more breakthroughs occur, there will be an increase in the treatment of the disorder, says the article. Many dentists can devote their practice to the diagnosis and treatment of sleep apnea.

As more medical devices are being developed, clinical care will improve. Not all patients respond well to the mechanical treatments of the past, says the article. A new device called THN Sleep Therapy was mentioned. It was developed by IMThera Medical and approved for clinical trials by the FDA.

There were other treatments mentioned in the article. Alternative treatments are smaller and more friendly to the user, says the article. They are actually implanted in the body. That means no more noisy and uncomfortable CPAP machines. Another FDA-approved treatment is upper airway stimulation.

Dr. Avi Weisfogel graduated from Rutgers University with a BA in biology and psychology. He later got his dental training and DDS from New York University College of Dentistry. In 1999, he opened Old Bridge Dental Care, his first dental practice. He has earned Best Dentist awards in the community for several years.

He established Dental Sleep Masters in 2014. He wanted to help develop dental appliances to treat sleep apnea. Dr. Wiesfogel helps doctors and dentists across the country identify patients who need treatment.