Category: Australian Taxation Office

Australian Taxation Office Receives 43,000 Tip-offs on Tax Cheats in 2021-2022

July 25, 2022
AustraliaAustralian Taxation OfficeWorld
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The Australian Taxation Office (ATO) has revealed a list of industries most likely to engage in the “shadow economy” as it received 43,000 tip-offs in the 2021-2022 financial year. Building and construction, hairdressing and beauty services, cafés and restaurants, road freight transport, and management advice and related consulting services were the top industries where most…

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Foreign Investor Fined $250,000 for Illegal Property Purchases

April 11, 2022
AustraliaAustralian Taxation OfficeBusiness & EconomyForeign Acquisitions and Takeover ActForeign Investment Review BoardInvestmentWorld
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Australia’s Federal Court has fined a man living in Victoria for illegally purchasing and possessing multiple properties, the first penalty order issued since the enaction of the country’s foreign investor laws. The court ruled that Vijay Balasubramaniyan, a temporary resident, had to pay a total of $250,000 (US$186,000) in fines to the federal government, plus…

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