array(1) { [0]=> &object(stdClass)#6135 (52) { ["id"]=> string(5) "17060" ["title"]=> string(120) "Do lockdowns boost property prices? Are short-sellers levelling the playing field? Did you lodge your tax returns early?" ["alias"]=> string(117) "do-lockdowns-boost-property-prices-are-short-sellers-levelling-the-playing-field-did-you-lodge-your-tax-returns-early" ["introtext"]=> string(196) "

On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ups and downs of online auctions, the power of activist short-sellers, and tax time 2021.

" ["fulltext"]=> string(1111) "

Steve Waters, director of Right Property Group, chats about online auctions and why they resemble “a bad Zoom meeting”, the growing resilience of the property market, and how Sydney’s lengthy lockdown could shake things up.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into short selling – the original trade that sent GameStop stock soaring – and how activist short-sellers are impacting markets.

And lastly, tax and super guru Timothy Munro talks about those early tax lodgers and possible ramifications, as well as detailing the temporary shortcut method, which you may be able to use this tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

" ["checked_out"]=> string(1) "0" ["checked_out_time"]=> string(19) "0000-00-00 00:00:00" ["catid"]=> string(3) "302" ["created"]=> string(19) "2021-07-13 05:06:29" ["created_by"]=> string(4) "2404" ["created_by_alias"]=> string(0) "" ["state"]=> string(1) "1" ["modified"]=> string(19) "2021-07-13 07:59:56" ["modified_by"]=> string(4) "2404" ["modified_by_name"]=> string(12) "Robyn Tongol" ["publish_up"]=> string(19) "2021-07-13 07:55:25" ["publish_down"]=> string(19) "0000-00-00 00:00:00" ["images"]=> string(240) "{"image_intro":"images\/podcasts\/230221_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg","float_intro":"","image_intro_alt":"","image_intro_caption":"","image_fulltext":"","float_fulltext":"","image_fulltext_alt":"","image_fulltext_caption":""}" ["urls"]=> string(121) "{"urla":false,"urlatext":"","targeta":"","urlb":false,"urlbtext":"","targetb":"","urlc":false,"urlctext":"","targetc":""}" ["attribs"]=> string(855) "{"article_layout":"","show_title":"","link_titles":"","show_tags":"","show_intro":"","info_block_position":"","info_block_show_title":"","show_category":"","link_category":"","show_parent_category":"","link_parent_category":"","show_associations":"","show_author":"","link_author":"","show_create_date":"","show_modify_date":"","show_publish_date":"","show_item_navigation":"","show_icons":"","show_print_icon":"","show_email_icon":"","show_vote":"","show_hits":"","show_noauth":"","urls_position":"","alternative_readmore":"","article_page_title":"","video_url":"","channel_id":"UCLBR-2LtTtui_WiRuEfW3qA","send":"0","test":"0","comments":"1","readingDiff":"3","schema_active":"0","schema_name":"","schema_description":"","schema_thumbnailUrl":"","schema_uploadDate":"","schema_duration":"","schema_contentUrl":"","schema_embedUrl":"","canonical_link":""}" ["metadata"]=> string(68) "{"robots":"","author":"","rights":"","xreference":"","metatitle":""}" ["metakey"]=> string(105) "lockdowns, boost, property, prices, short, sellers, levelling, playing, field, lodge, tax, returns, early" ["metadesc"]=> string(200) "On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ups and downs of online auctions, the power of activist short-sellers, and tax time 2021. Steve W" ["access"]=> string(1) "1" ["hits"]=> string(3) "148" ["xreference"]=> string(0) "" ["featured"]=> string(1) "0" ["language"]=> string(1) "*" ["readmore"]=> string(4) "1111" ["ordering"]=> string(1) "0" ["category_title"]=> string(7) "Podcast" ["category_route"]=> string(17) "resources/podcast" ["category_access"]=> string(1) "1" ["category_alias"]=> string(7) "podcast" ["published"]=> string(1) "1" ["parents_published"]=> string(1) "1" ["lft"]=> string(2) "82" ["author"]=> string(12) "Robyn Tongol" ["author_email"]=> string(33) "[email protected]" ["parent_title"]=> string(9) "Resources" ["parent_id"]=> string(3) "300" ["parent_route"]=> string(9) "resources" ["parent_alias"]=> string(9) "resources" ["alternative_readmore"]=> NULL ["layout"]=> NULL ["params"]=> object(Joomla\Registry\Registry)#6137 (3) { ["data":protected]=> object(stdClass)#6132 (95) { ["article_layout"]=> string(14) "momentum:newne" ["show_title"]=> string(1) "1" ["link_titles"]=> string(1) "1" ["show_intro"]=> string(1) "0" ["info_block_position"]=> string(1) "0" ["info_block_show_title"]=> string(1) "1" ["show_category"]=> string(1) "1" ["link_category"]=> string(1) "1" ["show_parent_category"]=> string(1) "0" ["link_parent_category"]=> string(1) "0" ["show_associations"]=> string(1) "0" ["flags"]=> string(1) "1" ["show_author"]=> string(1) "1" ["link_author"]=> string(1) "0" ["show_create_date"]=> string(1) "0" ["show_modify_date"]=> string(1) "1" ["show_publish_date"]=> string(1) "1" ["show_item_navigation"]=> string(1) "1" ["show_vote"]=> string(1) "1" ["show_readmore"]=> string(1) "1" ["show_readmore_title"]=> string(1) "1" ["readmore_limit"]=> string(3) "100" ["show_tags"]=> string(1) "0" ["show_icons"]=> string(1) "1" ["show_print_icon"]=> string(1) "1" ["show_email_icon"]=> string(1) "1" ["show_hits"]=> string(1) "1" ["record_hits"]=> string(1) "1" ["show_noauth"]=> string(1) "0" ["urls_position"]=> string(1) "0" ["captcha"]=> string(0) "" ["show_publishing_options"]=> string(1) "1" ["show_article_options"]=> string(1) "1" ["save_history"]=> string(1) "1" ["history_limit"]=> int(10) ["show_urls_images_frontend"]=> string(1) "0" ["show_urls_images_backend"]=> string(1) "1" ["targeta"]=> int(0) ["targetb"]=> int(0) ["targetc"]=> int(0) ["float_intro"]=> string(4) "left" ["float_fulltext"]=> string(5) "right" ["category_layout"]=> string(14) "momentum:newne" ["show_category_heading_title_text"]=> string(1) "1" ["show_category_title"]=> string(1) "1" ["show_description"]=> string(1) "0" ["show_description_image"]=> string(1) "0" ["maxLevel"]=> string(2) "-1" ["show_empty_categories"]=> string(1) "0" ["show_no_articles"]=> string(1) "1" ["show_subcat_desc"]=> string(1) "1" ["show_cat_num_articles"]=> string(1) "0" ["show_cat_tags"]=> string(1) "1" ["show_base_description"]=> string(1) "1" ["maxLevelcat"]=> string(2) "-1" ["show_empty_categories_cat"]=> string(1) "0" ["show_subcat_desc_cat"]=> string(1) "1" ["show_cat_num_articles_cat"]=> string(1) "1" ["num_leading_articles"]=> string(2) "14" ["num_intro_articles"]=> string(1) "0" ["num_columns"]=> string(1) "0" ["num_links"]=> string(1) "0" ["multi_column_order"]=> string(1) "0" ["show_subcategory_content"]=> string(2) "-1" ["show_pagination_limit"]=> string(1) "0" ["filter_field"]=> string(4) "hide" ["show_headings"]=> string(1) "1" ["list_show_date"]=> string(9) "published" ["date_format"]=> string(0) "" ["list_show_hits"]=> string(1) "0" ["list_show_author"]=> string(1) "1" ["orderby_pri"]=> string(4) "none" ["orderby_sec"]=> string(5) "rdate" ["order_date"]=> string(9) "published" ["show_pagination"]=> string(1) "2" ["show_pagination_results"]=> string(1) "1" ["show_featured"]=> string(4) "show" ["show_feed_link"]=> string(1) "1" ["feed_summary"]=> string(1) "0" ["feed_show_readmore"]=> string(1) "0" ["sef_advanced"]=> int(1) ["sef_ids"]=> int(1) ["custom_fields_enable"]=> string(1) "1" ["show_page_heading"]=> NULL ["layout_type"]=> string(4) "blog" ["menu_text"]=> int(1) ["menu_show"]=> int(1) ["page_title"]=> string(70) "Save Money - Tips and Strategies to Reach your Savings Goals | nestegg" ["menu-meta_description"]=> string(144) "Take control of your finances with our comprehensive tips and guides to debt consolidation, expenses, budgeting, savings account and tax saving." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(70) "Save Money - Tips and Strategies to Reach your Savings Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-07-13 07:55:25" ["slug"]=> string(123) "17060:do-lockdowns-boost-property-prices-are-short-sellers-levelling-the-playing-field-did-you-lodge-your-tax-returns-early" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(136) "/resources/podcast/do-lockdowns-boost-property-prices-are-short-sellers-levelling-the-playing-field-did-you-lodge-your-tax-returns-early" ["image"]=> string(65) "images/podcasts/230221_Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

Latest Podcast

Do lockdowns boost property prices? Are short-sellers levelling the playing fiel...

Resources

There is $17.5 billion in lost and unclaimed super across ...

Save

Tax evader imprisoned after 19-year investigation

By Cameron Micallef

August 19 2020
Share

Save

Tax evader imprisoned after 19-year investigation

By Cameron Micallef
August 19 2020

A tip-off 19 years ago has led to a key conspirator of an elaborate multimillion-dollar tax evasion scheme being imprisoned for six years.

Tax evader imprisoned after 19-year investigation

By Cameron Micallef

August 19 2020
Share

A tip-off 19 years ago has led to a key conspirator of an elaborate multimillion-dollar tax evasion scheme being imprisoned for six years.

The District Court of Queensland found that Philip Northam was a key promoter of an intricate tax evasion scheme, which was designed to strip Australian companies of their assets, leaving them in a position where they were unable to pay their tax liabilities.

The illegal scheme concocted a way for companies to transfer all assets of the company to its previous controllers, leaving the company an empty shell unable to pay its tax debts.

Along with four others, Mr Northam would strip a company of all its assets, bring in new straw directors, and shareholders were put in before the company was wound up, leaving the entities with no means to pay the tax liabilities.

A total of 15 companies took part in the scheme, putting $4.59 million worth of taxes at risk, but the ATO stated it has recovered most of the money.

The investigation started with a tip-off by a tax agent that brought the scheme to the attention of the ATO in early 2000, with the case referred to the Australian Federal Police (AFP), which began a criminal investigation.

Mr Northam, who moved to Vanuatu for a number of years, was finally arrested in November 2018 when he re-entered Australia, after an AFP warrant was issued a decade earlier.

The 60-year-old is the final person to be sentenced, following the sentencing of his co-conspirators Ian Sidney Henke, Robin David Huston and Brian Francis Fox in 2011, and Clarence Lawry Marae in 2013.

ATO assistant commissioner Aislinn Walwyn said the sentencing was a result of a 19-year investigation by the Tax Office and the AFP.

“This sentencing shows the tenacity and persistence of the ATO and our partner agencies to hold enablers of illegal schemes to account and to secure an outcome for the benefit of honest taxpayers. It also goes to show that tip-offs from the community do pay off,” Ms Walwyn said.

“Tax crime is not victimless. This arrangement was set up to deliberately evade paying tax, which is money that could have otherwise been used to fund vital public services that the community relies upon.”

AFP Northern Command Assistant Commissioner Lesa Gale said Mr Northam’s sentencing highlights the commitment of the AFP and its partners to targeting those seeking to defraud the Australian public.

“Tax fraud can make for a complex investigation, but the AFP remains up to the challenge and is grateful for the specialist expertise of our partners through the Serious Financial Crime Taskforce that allows investigators to investigate these matters thoroughly and effectively present these matters before the courts,” Ms Gale concluded.

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates

Rate the article

About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

Scams

5 giveaway signs of stock market scams and how to avoid them

Have you ever seen a pop-up when scrolling through social media or websites claiming a certain platform, financial adviser or celebrity can help you make thousands by ‘investing’ in programs or ve...Read more

Scams

Businesses lose $128m to this email scam

Australian businesses are being warned to remain vigilant, with a payment redirection email scam costing them $128 million in 2020. ...Read more

Scams

ASIC bans Sydney adviser for depriving clients of their funds

ASIC has slapped a permanent ban on a Sydney-based financial adviser after he gambled and lost a significant amount of client funds without their knowledge. ...Read more

Scams

Australians lost $851m to scammers in 2020

As Australian life shifted indoors during the pandemic, scammers weren’t far behind. ...Read more

Scams

ASIC rings alarm bell over Qantas bond investment scams

Australia’s securities regulator has warned investors to be wary after reports of a scam offering dodgy Qantas Airways corporate bonds. ...Read more

Scams

Financial adviser sent to prison for pocketing $2.9m in client funds

A former financial adviser has been sentenced to jail for misappropriating approximately $2.9 million of his clients’ funds without their knowledge. ...Read more

Scams

Fake news: ASIC warns investors over latest investment scam

The corporate regulator is warning of an increased number of reports from consumers who have lost their money after responding to an advertisement that directs to a fake news site. ...Read more

Scams

Aussies tipped to lose over $1m in car-based scams

Bargain-hunting Australians are being lured into car-related scams, with scammers posting fake in-demand cars at below market value, the consumer watchdog has warned. ...Read more