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.

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