Heinrich Formwork, Heiko Constructions, Highform Solutions wound up after court stoushes
Three construction companies are in liquidation and the tax office is chasing almost $10m from a well-known Gold Coast racehorse owner.
Business
Don't miss out on the headlines from Business. Followed categories will be added to My News.
THREE companies are in liquidation and one of the Gold Coast’s best-known construction bosses is being sued by the tax office for almost $10m after a multi million-dollar court feud with his sister.
Labour hire companies Heiko Constructions and Highform Solutions were ordered into liquidation by the Federal Court on Friday, following wind-up action by the tax office.
The companies are directed by Helga Bennett, the sister of horseracing identity Gerhardt “Hoss” Heinrich and were at the centre of a Supreme Court case earlier this year.
Heinrich Group companies have worked on some of the state’s biggest projects including the $1.4b Jewel development, Cross River Rail and Queen’s Wharf in Brisbane.
Mr Heinrich’s sister Helga Bennett sued him and his Yatala-based company Heinrich Constructions in February.
Ms Bennett claimed her brother deliberately created Heiko and Highform, of which she was director, to avoid paying almost $15m in payroll and other tax while providing labour hire services to Heinrich Constructions.
Mr Heinrich, a former chairman of the Gold Coast Turf Club, denied the allegations and the matter was dismissed in May.
In September the tax office issued wind-up notices for both Heiko and Highform, and the Federal Court ordered Derrick Vickers of PwC be appointed liquidator on Friday.
Meanwhile, Mr Heinrich is being sued personally by the tax office, which claims it is owed $9.84m in unpaid tax from his company Heinrich Formwork, as well as unspecified interest and costs.
Heinrich Formwork, a subsidiary of Heinrich Constructions, was placed into administration on August 23.
The claim filed by the Deputy Commissioner of Taxation alleged $9.9m in tax was withheld by Heinrich Formwork between January 2020 and June 2021, and only $154,232 was paid to the government.
It said Mr Heinrich, as the company’s sole director, was liable to pay the outstanding amount.
In his defence filed with the court, Mr Heinrich denied he or his company had failed to meet its tax obligations, describing the claim as “vague and unparticularised”.
He rejected part of the claim as he was “uncertain if the (Deputy Commissioner) is male or female”. The Deputy Commissioner replied with her name – Melinda Dawn Smith.
His defence said, because Heinrich Formwork was in liquidation, he no longer had access to the company’s documents and “remains uncertain as to the truth of the allegations”.
The defence said Mr Heinrich had struck, and adhered to, a deal with the tax office to make weekly $50,000 payments until the family’s Darlington Stud was sold, at which time the net proceeds would be given to the tax office.
According to Mr Heinrich’s defence, the proposal with the tax office included Heinrich Construction and Heinrich Plant Hire as well as Heinrich Formwork.
It further said his companies had suffered from significant delays and disruption caused by Covid-19, losing more than $10m due to factors including social distancing and staff absenteeism.
Property records show companies associated with the Heinrich family last year sold off a swath of properties, including Darlington Stud for $2.58m; two homes near the Gold Coast Turf Club for $10m; an industrial site at Molendinar for $819,000; and the Heinrich Constructions headquarters at Yatala for $6.85m.
Company records show Mr Heinrich resigned as a director of Heinrich Constructions on August 11 this year and was replaced by his daughter Tayla Heinrich, 26.
Shares in the company are ultimately held by Mr Heinrich’s wife Gillian Heinrich and their daughter Tayla.
Ms Heinrich, who is not party to the court case, is one of the most successful horse trainers in Queensland.
The Heinrichs’ horse Military Rose won the Gold Coast Magic Millions Classic in 2010.
Chalmers the stock picker makes a bad call
The Future Fund has thrived by having the independence to make its own financial calls. The Treasurer wants to trash this with his own risky bets.
First look: Giant ‘sky-mansion’ tower on quiet residential street
Plans for a giant riverfront tower, which will boast the Gold Coast’s largest penthouse, have been unveiled for a residential street which have been high-rise free until now.