Finance broker jailed for tax fraud
The Sydney District Court has sentenced finance broker and unregistered tax agent Angelos Giourtalis to nine years in gaol, with a non-parole period of 6 years and 3 months, for 57 counts of tax fraud.
The court found that Giourtalis prepared 57 fraudulent tax returns in the names of 36 taxpayers totalling over $720,000. Some of his clients were not even in the country for the period when Giourtalis reported that they earned Australian income.
The latest sentencing follows the imprisonment of accountant Dinker Goel for five years, with a non-parole period of two years, for lodging 41 fraudulent income tax returns.
Commenting on the two cases, Australian Taxation Office (ATO) tax commissioner Michael D'Ascenzo said it was important for taxpayers to never quote or give out their tax file number (TFN) unless there is an appropriate reason, such as completing a tax form or opening a bank account. He added that only authorised personnel from the ATO, Centrelink, a taxpayer's superannuation fund or bank, or their employer are entitled to ask for their TFN.
The recent sentencing also follows the Government's crackdown on fraudulent offences in taxation and superannuation, with 356 people and 122 companies prosecuted and convicted on such offences between 1 July and 30 September this year.
AUTHOR
Andrew Tsanadis
Recommended for you
Treasurer Jim Chalmers has handed down his third budget, outlining the government’s macroeconomic forecasts and changes to superannuation.
The central bank has announced its latest rate decision amid stubborn inflation and increasing geopolitical tension.
Government has introduced a bill to Parliament to legislate the first stream of the QAR reforms.
ASIC now has a 1:1 ratio when it comes to court success in the enforcement of crypto activities and more action is expected as Treasury seeks to introduce a regulatory framework.
