Details around alleged property taxes owed by Vailo founder Aaron Hickmann or his companies to remain secret
The state government says it will find out if the businessman owes anything to the SA taxpayer – but says there’s a key problem with making the information public.
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Details surrounding any alleged outstanding property taxes bankrupt Vailo founder Aaron Hickmann owes to Revenue SA will remain secret due to privacy provisions in the state’s taxation laws.
The state government is making inquiries with Revenue SA regarding allegations that Mr Hickmann or one of his companies has unpaid land tax bills.
In state parliament on Tuesday, the Opposition asked the government whether it had received all money owed to it from Mr Hickmann’s lighting company Vailo, which until last month was the main sponsor of the Adelaide 500 supercars event.
Treasurer Steven Mullighan said he would seek an answer, however he warned that secrecy provisions in taxation laws prevented the disclosure of detailed financial information.
“While I’ve been advised that due to the restrictions caused by the privacy provisions of the Taxation Administration Act in South Australia I am somewhat limited in the advice that I can provide but will make sure that I come back to the house and provide as much detail as possible,” he said.
Mr Mullighan later told The Advertiser: “I can confirm caveats have been applied to properties for which taxation debts are owed”.
Mr Hickmann’s lawyer Greg Griffin said “there is no risk” the government would be out of pocket.
It comes after The Advertiser last week reported Mr Hickmann had been declared bankrupt after failing to repay an almost $600,000 loan.
As a result of the bankruptcy order, made by the Federal Circuit Court in Adelaide last Wednesday, the 36-year-old entrepreneur has been automatically disqualified from managing corporations or holding roles such as director of more than 50 of his companies.
The order was made after Marlbury Capital Lending Services Pty Ltd pursued the sequestration action, claiming Mr Hickmann, who is now based in Queensland, has not repaid a $596,424.20 loan.
Mr Hickmann, a father-of-two, has disputed all debt and tax claims against him and his business.
Mr Griffin last week described the bankruptcy order as “unfortunate” because he said a refinancing arrangement was in place that would have resulted in the creditor being paid the full amount owed.
It is understood Mr Hickmann is now considering his legal options regarding the order.
Vailo was placed into receivership in early March as a result of apparently defaulting on repayments to a major bank.
National Australia Bank appointed an external administrator in a bid to recoup outstanding debt, according to Australian Securities and Investments Commission records.
Details on that debt has not been disclosed.
Mr Hickmann had previously told other lenders he earnt $1 million a year as the founder of Vailo.
In mid-March it emerged that Vailo would no longer be the Adelaide 500s main sponsor after confidential talks regarding a two-year extension collapsed.
Vailo had been the Supercars event’s naming sponsor since the state government revived the event in 2022.
Earlier this month, the government revealed the event will now be known as the bp Adelaide Grand Final.
It will be staged in Adelaide from November 27-30 and will include an extra 100km race.
Originally published as Details around alleged property taxes owed by Vailo founder Aaron Hickmann or his companies to remain secret
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