According to Fairfax Media, more than 500 Australians who are prominent players in politics, industry, philanthropy, real estate and law, will face scrutiny, and potentially investigations, as part of a global investigation into the use of offshore tax havens.
This list of Australians who will face probes comes from some 2.5 million documents leaked to the International Consortium of Investigative Journalists in Washington, which also forms the basis for investigations by tax officials in Australia, Britain and the US.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The data was leaked from two overseas wealth management companies, Commonwealth Trust Ltd in the British Virgin Islands and Portcullis TrustNet.
In May 2013, Switzerland’s two largest banks, UBS and Credit Suisse, were both named in a wide-spread investigation by ICIJ into offshore tax evasion.
Australian taxation office (ATO) said that two Australians on the list are subject to criminal investigations, while further information and documents has been requested by the ATO from at least 40 other individuals, reported Fairfax.
ATO deputy commissioner of senior non-compliance Greg Williams said: "It is not the average salary and wage earner. It is people who are wealthy enough to make this behaviour potentially worthwhile for them."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataAmongst those on the list is former Leighton Holdings and Australia post chairman David Mortimor, as well as celebrity chief Tetsuya Wakuda and philanthropist Janet Holmes, who once held the title of Australia’s richest woman, reported Fairfax.
