Millionaire Vailo founder Aaron Hickmann embroiled in land tax debt row with SA authorities over luxury Glenelg property

A millionaire entrepreneur is embroiled in a tax debt dispute with authorities over a luxury beachside Adelaide property and boat berth.

A millionaire entrepreneur is embroiled in a tax debt dispute with authorities over a luxury beachside Adelaide property and boat berth at a marina.

Official records show the state government has slapped a legal restriction on a $4.6m Glenelg South property Vailo founder Aaron James Hickmann, 35, owns.

Revenue SA, through the Commissioner of State Taxation, has filed a “caveat” – a buyer warning that invokes certain restrictions including on sales or land transfers – over allegations of unpaid land tax.

Vailo CEO and founder Aaron Hickmann, whose company was formerly known as Valo, at his offices and factory at Kent Town in October 2022. Picture Mark Brake

Legal experts say caveats are commonly linked to unpaid bills or to protect an owner’s equitable interest, which can be lifted if debts are paid or by legal challenge.

Authorities only use caveats to chase “significant debts” usually totalling tens of thousands of dollars.

Mr Hickmann, who quit South Australia this year for Queensland, said it was linked to the private sale of the four-bedroom South Esplanade property he owns through a company.

Corporate records show he is the sole director of Zamaz Property Eight Pty Ltd, which also owns a Glenelg-based $345,000 marina berth on Holdfast Promenade.

The South Esplanade, Glenelg South property. Picture: Real Estate.com.au

The caveat, which the Crown Solicitor’s office lodged on behalf of the “Commissioner State Taxation” at 2.01pm on May 31, restricts the luxury house and marina berth, property records show.

Mr Hickmann, whose empire included directors of at least 47 companies, said he would pay the tax bills, the amount of which he declined to disclose.

Inside the South Esplanade home Glenelg South. Picture: Real Estate.com.au

The Glenelg home is being sold privately. Picture: Real Estate.com.au

The “unregistered” notice doesn’t state what tax is outstanding or amounts.

A Treasury Department spokeswoman declined to provide details.

“A very low proportion of properties will ever have a caveat,” she said.

“They are only utilised when all channels and efforts to contact the land owner have been exhausted.”

Australian Securities and Investments Commission records show Mr Hickmann, a father-of-two, launched the Zamaz company in June 2022.

He then used the company to buy the marina berth two months later before purchasing the 1925-built stone, 339 sqm bungalow in October that year.

Mr Hickmann said he had yet to receive his land tax notice but it “will be paid” either by an “off-market settlement” or a general payment.

“(The) caveat is being removed,” he said.

In a subsequent statement issued through an Adelaide public relations firm, a spokeswoman said it related to “land tax owed on the off-market sale”.

“The sale of the Glenelg South property has not yet settled,” she said.

“The land tax on the property is not due to be paid until the property settles. As soon as the property settles, Mr Hickmann intends to pay the land tax.”

Property records show he sold his former Whistler Ave home, Unley Park, for $7.65m in February, through Zamaz Property Two Pty Ltd.

Mr Hickmann, (right) with from left: V8 driver Nick Percat, Motor Sport Board chief executive Mark Warren and Premier Peter Malinauskas at the Adelaide 500’s official launch in Victoria Square in 2022. Mr Warren declined to comment about any naming rights negotiations Picture: NCA NewsWire / Kelly Barnes

Detectives are still investigating a terrifying home invasion in May last year at the inner southern suburbs property, police said on Wednesday.

Three masked bandits, who have not been identified, tried to raid his Adelaide mansion while his family slept.

Another Eastern suburbs house, on Lascelles Ave, Beaumont, sold in his name in October last year for $2.05m.

Vailo, formerly known as Valo before a “rebrand” last year, sponsors several major sport teams and events, including the Adelaide 500.

His high-profile lighting and advanced technology business, which he founded in 2012, has a three-year contract for the V8 motorsport event’s naming rights.

A spokeswoman for SA Motor Sport Board chief executive Mark Warren would not say on Wednesday if negotiations were afoot to extend sponsorship past this December’s event.

“The SA Motor Sport Board has a strong relationship with VAILO with the current contract for this year, with the option for another two (years),” she said.

Mr Hickmann inside of his Wayville business in January this year before he moved to Queensland. Picture: Ben Clark

Originally published as Millionaire Vailo founder Aaron Hickmann embroiled in land tax debt row with SA authorities over luxury Glenelg property