The ATO on Mon 23.9.2013, advised that a Queensland-based accountant has been sentenced to 6 years jail for promoting tax avoidance schemes to a number of clients which lead to nearly id=”mce_marker”.4m in tax being avoided. It said early this year, in connection with the case, 4 former clients of the accountant were convicted of obtaining financial advantages by deception in connection with the tax schemes.
In light of the decisions, the ATO Second Commissioner Bruce Quigley warned taxpayers against participating as well as promoting tax exploitation schemes. According to the ATO, the judgment is the 39th to be handed down under Project Wickenby’s comprehensive focus on international tax evasion.
Source: ATO media release No 2013/24, 23 September 2013
[LTN 184, 23/9/13]