In explanation, he said he had done so because he saw an opportunity to get money to support his lifestyle and pay some outstanding debts.
Lawyer Bill Nabney successfully argued before Judge Robert Wolff for a sentence of home detention for his client, who he said was receiving ACC for a back injury and supporting two teenage sons.
He said Gatenby's offending arose after he was "sorely let down" by his business colleagues and was left holding personal guarantees for almost $200,000 of debts.
As an undischarged bankrupt, Gatenby has no assets or means of paying the reparation.
Judge Wolff told Gatenby that given his personal circumstances and that he had no prior convictions of the same nature, he was prepared to impose a sentence of home detention.
"Payment of tax may be an unattractive task for most of us, but it is a very important function if the wheels of society are to keep turning, and ensure there are sufficient funds ...
"Your offending therefore involved stealing from the community at large," the judge said.