A Gold Coast property developer was sentenced at the Southport District Court for fraudulently obtaining $147,763 in GST refunds.
The court heard that, in 2014, the individual falsified expenses on 8 BAS relating to a tower he claimed to have been building in Broadbeach on the Gold Coast.
During an ATO audit into the company's tax affairs, it was uncovered that:
• the subject land in Broadbeach was not owned by the individual
• no finance had been obtained for the project
• no development applications for the site had been submitted
• the expenses claimed in the 8 BAS lodgments were never incurred
The individual also attempted to obtain an additional $76,253 in fraudulent refunds however this was stopped by the ATO.
Read the full ATO media release: