Bankrupt Vailo founder Aaron Hickmann opens up about tax debts

Recently bankrupt Vailo founder Aaron Hickmann has laid bare his outstanding tax liabilities.

Embattled Vailo founder Aaron Hickmann has opened up about the outstanding tax debts he owes to both state and federal authorities.

The Australian Taxation Office and Revenue SA had been chasing unpaid taxes owed to them by Mr Hickmann or his companies.

The state government has previously confirmed caveats have been applied to properties owned by the South Australian entrepreneur in relation to unpaid property taxes.

However, it has been unable to disclose how much Mr Hickmann owes due to privacy laws.

Meanwhile, the ATO was a “supporting creditor” in bankruptcy action brought against Mr Hickmann by Marlbury Capital Lending Services, which claimed the South Australian entrepreneur had not repaid an almost $600,000 loan.

That sequestration action was finalised when the Federal Circuit Court in Adelaide last month declared Mr Hickmann bankrupt.

The 36-year-old father-of-two disputed debt and tax claims against him and his business.

Vailo founder Aaron Hickmann. Picture: Ben Clark

In a new statement to The Advertiser, Mr Hickmann – whose lighting company Vailo was until last month the main sponsor of the Adelaide 500 Supercars event – has laid bare his tax liabilities.

“In relation to (ATO) tax, I am aware my companies that have a genuine tax debt of around $343,000 are being negotiated on a repayment plan,” he said.

“Any claimed interest or penalty is being disputed with the objection department and will be paid.”

Mr Hickmann, who is now based in Queensland, did not disclose how much the ATO is claiming in interest or penalties.

The 36-year-old said in relation to his state land tax debt, he was “aware my companies collectively owe $88,000 and a repayment plan is being entered”.

He said any “miscalculation” would be “discussed and negotiated by my conveyancer for final payment”.

“There will be no loss to Revenue SA,” Mr Hickmann said.

The ATO and SA’s Treasury and Finance Department, which oversees Revenue SA, both declined to comment, citing taxation confidentiality laws.

Vailo CEO and founder Aaron Hickmann did not disclose how much the ATO is claiming in interest or penalties. Picture: Mark Brake

Aaron Hickmann’s company Valo (later renamed as Vailo) used to sponsor the Adelaide 500 Supercars race.

“My companies invested millions into South Australia, including one of the largest sponsorships for multiple years. Instead of cheering on someone from Adelaide, and the company supporting others, I’ve been harassed with allegations and misinformation ever since,” Mr Hickmann alleged.

Vailo was plunged into receivership in early March this year as a result of apparently defaulting on repayments to National Australia Bank.

The bank appointed an external administrator in an effort to recoup outstanding debt, according to Australian Securities and Investments Commission records.

The amount of money NAB claims Vailo owes has not been disclosed.

In mid-March The Advertiser reported that Vailo would not continue to be the Adelaide 500’s main sponsor after confidential discussions regarding a two-year extension collapsed.

Vailo has been the naming rights sponsor of the Supercars event since the state government revived the race in 2022.

Last month, the government revealed the event would now be known as the bp Adelaide Grand Final.