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A collection of updates, articles and papers written by The Little CFO & The Little CFO Legal

Gold Coast Property Developer sentenced for ATO GST Fraud. 7/9/21

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:

https://www.ato.gov.au/.../Highrise-of-lies--ATO-catches.../

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