ATO called in to examine GetUp finances

The Government has formally asked the Australian Taxation Office to examine GetUp’s finances following an investigation by News Corp Australia.

Exclusive: The Government has formally asked the Australian Taxation Office to examine GetUp’s finances following an investigation by News Corp Australia.

News yesterday revealed questions had been raised over why the left-wing lobby group did not pay tax on its 2018 profits, as well as its deferral of income and treatment of donations as “non-assessable”.

One of three sources in the article was a report by public policy analyst James Falk in which he claimed GetUp deferred revenue to reduce its tax by $500,000.

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Liberal Senator Eric Abetz has asked the ATO to investigate GetUp’s finances on behalf of the Government. Picture: AAP

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“I believe this article and report raise legitimate questions about GetUp’s deferral of income and treatment of donations in its financial reports lodged with ASIC,” Liberal Senator Eric Abetz said in a letter sent to ATO commissioner Chris Jordan.

The other sources in the story were accounting academics from Deakin University and the head of HLB Mann Judd not for profit division, audit partner Darryl Swindells.

Mr Abetz said: “In light of the views of these highly qualified individuals on GetUp’s accounts I believe there is merit in the ATO examining whether GetUp is meeting its full tax obligations.”

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Public policy analyst James Falk claims GetUp deferred revenue to reduce its tax by $500,000.

An ATO spokesman said that while it could not comment on the tax affairs of any entity due to its obligations of confidentiality under the law, it would “consider and assess any information that suggests that individuals or entities may not be acting in accordance with their tax obligations”.

Meanwhile Mr Falk — who ran unsuccessfully as a Liberal candidate in the 2011 NSW election but no longer connected to the party — said he received a letter from GetUp on Wednesday demanding he publicly apologise or else face defamation action.

He has not apologised.

GetUp did not respond to requests for comment on the ATO referral.