[1] He received his education at Te Aro Primary, St Mark's Church School and Wellington College.

[2] Wallace stood for the National Party in the seat of Pencarrow (which covered much of Lower Hutt) at the 1990 general election.

[7] In June 2017 Wallace hit media headlines for his decision to retain rate payer funded meals.

The motion was raised by Councillor Campbell Barry who believed elected members should pay for their own meals after the Council decided to introduce what he called "a sham Living Wage Policy".

[11] In the 2021 New Year Honours, Wallace was appointed an Officer of the New Zealand Order of Merit, for services to local government and the community.