Yesterday
Shein shifts Australian marketplace to Singapore, raising tax question
The Chinese online fast fashion giant, which has expanded rapidly with low prices and a large range of merchandise, moved transactions to an overseas entity.
May
Ford enlists Trump tax officials in billion dollar ATO brawl
The Trump administration has taken an aggressive stance against global taxation deals, and the ATO is embroiled in similar fights with ExxonMobil and PepsiCo.
Jim Chalmers must get back to the drawing board on super tax measures
Tinkering in the wrong way with the superannuation system to bolster the tax intake is dangerous. AMP’s Alexis George urges a government rethink.
Contractor winning Qld projects denies link to $53m tax bill
The business has denied any connection to a string of companies that collapsed owing tens of millions.
Former EY partner banned over tax evasion and schemes for clients
Peter White has been banned by the Tax Practitioners Board for five years for personal tax evasion and creating schemes for clients to minimise tax.
Why you should think twice about trying to avoid the $3m super tax
The dilemma is that taking action to avoid one tax (on earnings above $3 million) might trigger another one (capital gains tax).
The family trust blunder that could send you bankrupt
The tax office is scrutinising family trust distributions dating back decades. Some trustees have been shocked to receive bills worth hundreds of millions of dollars.
April
More than $700k sent to director’s wife in alleged $120m GST scam
The wife of one of the directors of collapsed pub empire Virtical told examinations she had no memory of the more than 20 transactions sent from the company.
Bankruptcy catches up with accountant linked to tax fraudsters
Filomina Kyriacou – linked to some notorious tax fraudsters – has avoided tax debts and unpaid loans worth nearly $4 million by declaring herself bankrupt.
March
ATO alleges ex-EY partner ‘lined his pockets’ with client money
A former EY partner received secret commissions from clients by not disclosing relationships with companies he used to facilitate illegal tax schemes, the Tax Office alleges.
Players in alleged $200m GST scam turn on each other in court
Each of the two former directors of pub-owning company Virtical say the other was responsible for invoices that could reveal the biggest GST tax fraud in Australia’s history if proven.
$1b family trusts dispute may be headed to the High Court
The Australian Taxation Office will continue to fight a decision that could leave it owing as much as $1 billion in refunds to 971,000 family trusts.
Gatto-linked firm leaves $14m tax bill
A labour hire firm backed by builders and the CFMEU on major Victorian government jobs, despite having no licence, has defaulted on millions of dollars in taxes.
Government subcontractor collapse leaves $30m tax debt
An investor tied to firms winning state government work has had a second company linked to him collapse owing taxes, raising questions about procurement policies.
February
‘Easy money’: regulators lax on a scam that costs the economy $5b a year
Despite decades of debate, reviews and legal reforms, the tax-avoidance used in phoenixing has never seemed so blatant.
Chase has stalled in suspected $180m corporate fraud case
A liquidator has not been able to secure ATO funding to aid an investigation into a suspected tax fraud in the construction industry.
Banned Sydney tax agent back in business on the Gold Coast
Controversial accountant Filomena Kyriacou has emerged at the helm of a Gold Coast accounting firm.
Meet the accountant linked to Sydney’s most infamous tax scammers
Filomena Kyriacou led an accounting firm that advised clients who avoided millions in tax, dealt with organised crime figures and was linked to some of the most infamous tax scammers in the country.
January
ATO to crack down on Baby Boomer wealth transfer ‘risks’
The Australian Taxation Office says it will zero in on Baby Boomers restructuring private companies to pass billions onto their heirs.
UBS set to settle Credit Suisse US tax case, WSJ reports
A settlement in the hundreds of millions of dollars related to a decade-old tax evasion case could come as soon as this week, The Wall Street Journal reported.