An investigation prompted by the Gillard Government into tax fraud has uncovered some horrendous situations as reported by the Townsville Bulletin under the heading $4b bill as tax probe targets rich evaders 13.12.14.
The two year investigation even stunned the Tax Commissioner who said the days of the Swiss bank account were now over, and so they should be, these cunning, wealthy people should have always accepted their responsibility as Australian citizens to make fair and just payments into the economic health of this nation as every Pay As You Earn taxpayer does.
The article covered a case of a Sydney property developer who was declaring an annual income of only $5,000 per annum yet bought a Point Piper mansion for $15 million. His fine will be $10 million which is fairly lenient under the circumstances, this has been happening for many years and is grossly unfair for people who take responsibility for their citizenship and make the honest and proper contributions. There are far too many underhanded practices happening all over this great nation and this is the first step in the right direction.
Taxation Commissioner Chris Jordan said “some of these people don’t think they will go to jail…what they don’t realize is that in the worst cases we will refer them to the Australian Federal Police. It is not tax dodging, it is fraud.” I expect there will be quite a few sleepless nights in all areas of Australia in the coming months, and so should there be. Whether it is a person fraudulently claiming government benefits or dodging their taxation responsibility, both are acts which deprive the federal Treasury of its rightful share with which to support this nation, it is staggering that a total of $4 billion has thus far been collected.