Reply to post: Re: So how were they making money?

Plutus Payroll clients and staff fell for plausible business model fairy tales

Anonymous Coward
Anonymous Coward

Re: So how were they making money?

Seems like they were picking up a slice of the income tax and failing o pay it to the ATO (which would be 40% ish of the value, I'm guessing)

They would pay some patsy $500 a month to be a director of one of the sub companies. These were poor dupes, with no understanding of the liabilities and responsibilities of being a director. So if a sub company goes bankrupt, oh dear! Phoenixing companies.

The tax office is far to slow to catch these, and given the number of Tax officers suspended, and the fact that a deputy commissioners family (the one who was their major fraud investigator) was at the center of the scheme.

This really should cause massive changes in taxation here.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

SUBSCRIBE TO OUR WEEKLY TECH NEWSLETTER

Biting the hand that feeds IT © 1998–2021