Save
Greenlight for ‘Paradise Papers’ to be used in ATO’s tax haven targeting
A High Court decision regarding the infamous “Paradise Papers” means the Australian Tax Office can continue its fight against large corporations hiding capital in tax havens.

Greenlight for ‘Paradise Papers’ to be used in ATO’s tax haven targeting
A High Court decision regarding the infamous “Paradise Papers” means the Australian Tax Office can continue its fight against large corporations hiding capital in tax havens.

In a statement from the ATO’s second commissioner Jereyy Hirschhorn, it was indicated that the organisation will continue to target large corporations who are not paying tax in Australia, namely Glencore, who was at the centre of the High Court battle to have documents detailing money movements labelled as subject to legal professional privilege.
The coal producer lost the bid to hide documents that were leaked as part of the Paradise Papers.
Commenting on the decision, Mr Hirschhorn said “the ATO will continue to use all information available to ensure large corporations and those trying to hide money overseas are paying the right amount of tax”.
“Our wide and growing range of information sources and increased collaboration with overseas agencies are vital tools in achieving this objective,” he continued.
Discussing how taxes not being paid where they are due in Australia hurt the national economy, the commissioner said the ATO “will continue to work for all Australians in ensuring that our revenue base is not eroded by taxpayers not paying the right amount of tax in Australia”.
He called the decision against Glencore a “win for the Australian community who rightly expect the ATO to use all information available to ensure large corporations and those who seek to hide money overseas are paying the right amount of tax”.
The Paradise Papers, some of which detailed Glencore dealings, was a set of 13.4 million confidential electronic documents relating to offshore investments that were leaked to a German reporter back in 2017.
According to the information leaked, Glencore has previously moved billions of dollars of global assets into offshore tax structures to avoid paying tax domestically.
When the information first leaked, the ATO announced it would respond “decisively” to the information alleged within the documents.
About the author

About the author


Tax saving
How are Australians planning on spending their tax savings?
Essential bills, savings accounts, Christmas gifts and exchange-traded funds appear to be the big winners from the latest round of tax cuts, new research has revealed. ...Read more

Tax saving
First in the world: SA imposes EV tax
The South Australian government is the first government in the world to introduce an electronic vehicles tax following an announcement by the treasury. ...Read more

Tax saving
5 tips as tax deadline looms
Australians are being warned that they have just two weeks left to get their finances in order if they have not posted a tax return yet. ...Read more

Tax saving
ATO warns businesses of JobKeeper scam
The ATO is warning the community about a JobKeeper scam which is asking members to enter personal information. ...Read more

Tax saving
Why fast-tracking tax cuts won’t stimulate the economy
Treasurer Josh Frydenberg has flagged that previously legislated tax cuts could be moved forward in a bid to help stimulate the Australian economy. ...Read more

Tax saving
Last-minute items to check off before 30 June
With the end of the financial year almost here, an accounting firm has outlined key changes with tax returns this year and flagged some last-minute tax strategies to consider before 30 June. ...Read more

Tax saving
Australia’s richest owe the Tax Office $772m
Australia’s elites and private companies fell $772 million in taxes due to miscalculations and deliberate tax avoidance, the Australian Taxation Office has revealed. ...Read more

Tax saving
Do you have to pay taxes on a trust?
Trusts are usually set up for business, estate planning and investment purposes to separate the legal and beneficial ownership of assets held within the structure. ...Read more

Is the market overheating; should ETFs take your fancy, and what’s happening to the low and middle income tax offset?
Listen now

Home values up 30% (or are they); NFTs taking the world by storm, and why Keating thinks Aussies will be ‘poor’ in retirement
Listen now

Raging floods, the tech stock bubble and the ongoing SG debate
Listen now

Meet the Manager with Trilogy’s Philip Ryan: RBA rates and property price growth
Listen now

Tax saving
How are Australians planning on spending their tax savings?
Essential bills, savings accounts, Christmas gifts and exchange-traded funds appear to be the big winners from the latest round of tax cuts, new research has revealed. ...Read more

Tax saving
First in the world: SA imposes EV tax
The South Australian government is the first government in the world to introduce an electronic vehicles tax following an announcement by the treasury. ...Read more

Tax saving
5 tips as tax deadline looms
Australians are being warned that they have just two weeks left to get their finances in order if they have not posted a tax return yet. ...Read more

Tax saving
ATO warns businesses of JobKeeper scam
The ATO is warning the community about a JobKeeper scam which is asking members to enter personal information. ...Read more

Tax saving
Why fast-tracking tax cuts won’t stimulate the economy
Treasurer Josh Frydenberg has flagged that previously legislated tax cuts could be moved forward in a bid to help stimulate the Australian economy. ...Read more

Tax saving
Last-minute items to check off before 30 June
With the end of the financial year almost here, an accounting firm has outlined key changes with tax returns this year and flagged some last-minute tax strategies to consider before 30 June. ...Read more

Tax saving
Australia’s richest owe the Tax Office $772m
Australia’s elites and private companies fell $772 million in taxes due to miscalculations and deliberate tax avoidance, the Australian Taxation Office has revealed. ...Read more

Tax saving
Do you have to pay taxes on a trust?
Trusts are usually set up for business, estate planning and investment purposes to separate the legal and beneficial ownership of assets held within the structure. ...Read more