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Panama Papers tax haul tops $143 million

Tom McIlroy and Ronald Mizen

Jan 19, 2021 – 12.00am

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A Tax Office investigation sparked by one of the biggest leaks of confidential financial information has led to more than $140 million in new liabilities, with a small number of criminal investigations continuing.

About 1400 Australians were named in the Panama Papers leak in April 2016, which included 11.5 million files from Panamanian law firm Mossack Fonseca. Newly released data shows the ATO has completed more than 500 audits and reviews linked to the revelations, with more work under way.

Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent.

Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra.