There are potential tax implications from the ANZ's sale of a luxury St Heliers Bay mansion to the wife of its former boss David Hisco and the Inland Revenue is likely to be looking closely at it, says a tax expert.

ANZ says it took tax advice at the time but won't answer questions on whether it paid tax relating to the deal.

The house at 269 St Heliers Bay Rd was purchased by ANZ New Zealand-owned subsidiary company Arawata Assets in 2011 for $7.5 million and, despite a booming property market over the next six years, the property was