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- Date published:
6:31 pm, September 14th, 2025 - 22 comments
Categories: Christopher Luxon, michael wood, national, same old national -
Tags: brightline tax, Carl Bates, cgt, conflict of interest, landlord
25 - That’s the number of undeclared properties (mostly rentals) that National Party MP Carl Bates omitted from the MP interest registry. Many of the properties are rentals in Whanganui, making Bates’ family one of the biggest private landlords in his electorate.Article
Carl Bates has been unveiled as the MP who failed to declare at least 25 rentals on the MP registry, using a family trust to shield himself from disclosure requirements after the election.
The rule is clear:
MPs must “declare any real property in which they have an interest, including property owned by a trust of which they are a beneficiary”.
But Bates used a grey area/loophole – the same one that dinged Labour’s Michael Wood.
Chris Knox writes of Wood’s case earlier in 2023 –
Wood was the beneficiary of a trust that owned shares…The Registrar argued that he should have, but also noted that the rules may not make it “clear that members must, under certain circumstances, declare shareholdings held in trust.”
i.e This is a grey area.
Wood was ultimately asked to resign.
The value of Wood’s shares was around $12,000-15,000, at the most conservative rate, 0.14% of Bates’ conflict of interest largely rental portfolio.
Bates owns properties up and down New Zealand, from Auckland to Wellington to Whanganui.
His Epsom Auckland property was purchased on 9 September 2024. As Chris Knox reports, Bates had the shareholdings in two family-owned real estate investment companies with 25 properties when he was elected to Parliament. He was listed a Director with his mother.
He then transferred them to a family trust and listed himself as a beneficiary.
It was very intentional, and one could reasonably argue his actions were deliberately designed to shield himself from public disclosure.
As a National MP who votes on laws, Bates significantly benefits from the ~$3bn in tax breaks that Luxon gave people like himself and the first term Whanganui MP.
Bates benefits from a policy of no Capital Gains Tax.
He benefits from the 138 state homes Chris Bishop cancelled in Whanganui this year
Bates and Bishop in Whanganui discussing Kainga Ora earlier this year
Bates benefits from National changing the brightline test – the same one that Luxon used to good effect – pocketing tax free sales of over $500,000 profit from just two investment property sales last year.
Luxon later sold another property late last year, netting himself more significant tax free gains.
It’s ironic how angry the public and National voters are at Golriz Ghahraman – but this type of arguably blatant theft from taxpayers is mostly ignored – millions of dollars worth taken from taxpayers but done “legally,” as Chris Bishop would argue because National will always change the laws to benefit mates
Bishop: “I’m getting lobbied hard….There’s people out there that want to use the law”
And themselves.
Bates’ portfolio is very conservatively estimated at $8-$10 million1 – but likely to be far higher.
He’s one of NZ’s mega landlords.
Bates is not the only one who tried to hide significant assets in trusts.
David Seymour was revealed as holding multiple properties in trusts after an investigation too, something he claimed he simply “forgot” after years of telling Kiwis he was just another poor renter.
And now we see the ACT Party this year telling Kiwis it’s loosening the rules for selling homes in a trust because, according to gun lobbyist Nicole McKee, rules are hurting “hard working families” with a “burdensome level of document verification and compliance checks”.
Note the language they chose.
And ACT’s change here means real estate agents no longer need to identify any beneficiaries in the trust and forgo explanations and proof of how the property was paid for.
Why does that feel convenient, yet again?
The issue really isn’t that MPs hold properties in trusts though.
Every MP is entitled to their financial affairs, but when secrecy ensues and conflicts of interest are so blatantly ignored and disrespected, and the public interest forfeited for a kleptocracy, we might realise this is a corrupt government at play.
PS Last week, Carl Bates had to delete this embarrassing post where he forgot he was praising and defending himself from his own account. Peak National Party.
Bates won't resign and we'll all move on , the left is held to a different set of rules ,
So it appears!! Bates should be gone, but then his Boss profited from their tax breaks when he sold properties….. That I suppose is "being sorted", which seems to be more important than being honest.
A job for Grant Taylor? Auditor General.
Edit: P;us the bit about Seymour lying about his wealth – could lie straight in bad.
https://thestandard.org.nz/whanganui-mp-carl-bates-hid-25-rentals-from-disclosure/#comment-2044311
Yep – and everybody of the left who is elected to public office better realise that damn quickly and keep themselves absolutely bulletproof or not stand for office at all. Only when you are beyond reproach yourself, can you unrelentingly attack such depraved behaviour as we see from Bates
Yep, AB, and also everybody of the left should be involved in political parties to ensure good policy and candidates. Otherwise, look what we get…..
This story, and others like it, is all adding to the grubby politics meme. My friend today said about this Bates story, "It's all politics". I said it's about 'crookery'. He said, "same thing".
We have to recover trust in our politicians and our process.
So Chris Luxon made a profit of $500k or more selling rental houses and is "wealthy". Not going to criticise Luxon for making a profit selling houses nor for being wealthy. However there are two things Chris. First, changing the bright line test and then benefitting financially. That snacks of pocket lining mate. Second, if you make some income or make a profit, pay tax on it. If I work for wages or salary, I pay tax. If I own a business and make a profit, I pay tax. Chris Luxon sells some investment properties and makes a profit, he should pay tax. Capital Gains Tax. A very simple but clear example/explanation for the election next year. Chris Luxon should pay tax on his income/profits just like most kiwis do.
Yip I got a small extra income last year, decided to declare it,probably could have got away with not declaring it, then got whacked with paying back $500 of working for families I got as a solo parent,
Solo Parent payment should be like living alone allowance for pensioners. The payment for the children should not be clawed back!!. Bad law
. It should be like the Winter Warmth payment.
It turned my little bit extra from 30% taxed to 35% rough guesstimate.
Whilst I have no desire to defend Luxon, I would like to point out that if you sell a property worth $500k for $500k in cash there is no actual profit.
What was it bought for? That surely determines the profit?
Carl's a poster boy for this coalition.
Profited from law changes then congratules himself however he is unlikely to be embarrassed.
He would look fine in ACT or NZF along with the other pirate crews.
Great work Tui-especially the bit where Seymour has continually lied about his wealth. This needs to come out in the press again pre election.
One of my main issues (of many) with this government is the number of lies they tell. To omit a fact that is relevant to the issue being addressed is a lie under the law.
Better not to compare the situation with Wood. Your argument holds sufficient weight on it's own. And the situations are not at all comparable.
Wood owned the shares directly (personal ownership) not through a trust (it was his wife who owned shares in the airport through a trust)
https://www.stuff.co.nz/national/politics/132257415/the-key-details-around-michael-woods-auckland-airport-share-controversy
The shareholding was relevant because he was the minister in charge of Transport (and actually making decisions relevant to the value of the shareholding). None of which is true for Bates – a backbencher. His current roles, Deputy Chairman of the Education and Workforce Select Committee, member of the Petitions Committee – are unlikely to be affected by being a beneficiary of a trust owning property.
Wood was actually fired for repeatedly lying over having sold the shares or being in the process of selling the shares (when he made no attempt to do so)
Wood didn't lie. He just never got around to actually selling them like he said he would. It smacked of carelessness, arrogance and he paid a price for it. I have no doubt he learnt much from it, and will be able to resume his parliamentary career in the near future.
This Bates fellow… suspect his actions or the lack of them were not based on just carelessness and arrogance but time will tell.
Well, I don't know, Anne.
We must respect his integrity – after all, the fact that he voted in favour of giving landlords a tax break, and in effect, himself, was entirely due to Coalition solidarity.
So why recuse yourself if your government has a sufficient majority to rort the system in favour of people like himself? /s
Wood lied. He was repeatedly asked if he was in the process of selling the shares. And he claimed that he was, despite making no attempt to do so.
https://www.stuff.co.nz/national/politics/132248458/michael-wood-asked-12-times-by-cabinet-office-if-he-had-sold-auckland-airport-shares
His actions were stupid and arrogant – although I seriously doubt that they actually impacted on his decisions as a Minister.
I would also hope that he's learned his lesson.
Was he also one of the two ‘Likes’ of his own post? I’d never shake hands with that guy.
If you do shake hands with him make sure to count the number of fingers you have afterwards.
I largely agree with Bryce. The rules regarding MPs’ pecuniary interest disclosures need to be strengthen and given more teeth for failure to comply.
https://theintegrityinstitute.substack.com/p/integrity-briefing-the-loophole-allowing
Under investigation for lack of disclosure.
https://www.stuff.co.nz/politics/360835388/parliament-watchdog-investigate-national-mp-over-his-trusts-25-rental-homes
The wider public record.
https://www.stuff.co.nz/politics/360836304/one-national-mp-who-doesnt-own-any-property-and-parliaments-biggest-landlord
https://archive.li/WLty2#selection-4045.78-4045.145