Gold Coast developer Jim Raptis in “productive talks” with ATO as $80m asset freezing orders extended to November

Besieged developer Jim Raptis has spoken publicly about his crippling stoush with the Australian Tax Office, making a surprising claim.

Jim Raptis

BESIEGED developer Jim Raptis has spoken publicly about his crippling stoush with the Australian Tax Office, claiming he is in “productive discussions” as the office chases almost $110m in unpaid tax and penalties.

The comments came a week after he publicly claimed he’d been denied the right to object to tax assessment notices which allegedly show he owes millions of dollars in unpaid tax and penalties.

The court froze more than $80m in assets linked to Jim Raptis, wife Helen and son Evan, including the veteran developer’s $20m Paradise Waters mansion and a Lexus LS500 sedan, in a hearing without notice on October 1.

The freeze came as the ATO seeks $109.7m from Mr Raptis, members of his family and other entities they allege are linked to him.

Mr Raptis’ family members are not accused of wrongdoing, criminal or otherwise.

In a statement to the Gold Coast Bulletin via a spokesman, Mr Raptis said he was co-operating with the ATO.

“Our representatives are in productive discussions with the ATO seeking to clarify and resolve all outstanding matters,” the representative said.

The tax office declined to comment on the matter due to confidentiality.

In a statement provided to The Australian earlier this month, Mr Raptis said he’d been working with the tax office on “personal matters” for 18 months and was “very disappointed” when the tax office issued him with “unrelated” tax assessments and sought freezing orders in his absence.

The case was adjourned on Thursday, and the asset freeze was extended, to a hearing on November 18.

Under tax law, all taxpayers have the right to lodge an objection to assessments made by the ATO.

The office’s website offers comprehensive advice on how to lodge an objection, as well as forms which can be completed and lodged online or sent via post.

October 21, 2021:

AN asset freeze on veteran Gold Coast developer Jim Raptis has been extended as the Australian Tax Office chases $109.7m in alleged unpaid tax, penalties and interest.

The court froze more than $80m in assets linked to Jim Raptis, wife Helen and son Evan, including the veteran developer’s $20m Paradise Waters mansion and a Lexus LS500 sedan, in a hearing without notice on October 1.

In a case management hearing on Thursday, Justice Michael Thawley ordered the freezing orders to be extended until the next hearing, which was set down in the Federal Court for November 18.

The freeze came as the ATO seeks $109.7m from Mr Raptis, members of his family and other entities they allege are linked to him.

Court documents said ATO investigations had revealed apparent “tax avoidance arrangements” by Mr Raptis, members of his immediate family and companies.

Jim Raptis

“Mr Raptis and entities with which he is associated have a long history of failing to file tax returns and pay tax debts.”

Mr Raptis said he intended to “work cooperatively with the ATO (and if necessary, lodge objections) to resolve these historical matters”.

The hearing came after former accountant Vanda Gould, who the ATO alleges was a long-time associate of Mr Raptis, was stripped of his financial services licence.

Gould, a former chairman of investment company CVC, is serving a six-year sentence after being found guilty in 2019 of attempting to pervert the course of justice over a $383m tax evasion scheme.

Court documents said “Mr Raptis has maintained a long association with Mr Vanda Gould as his accountant”.

They said Mr Raptis, along with his wife and children, shared beneficial ownership of a trust, Educational Gold Trust, with Gould and his wife and children.

The trust is among the entities which are subject to the asset freeze.

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