THE EDGE 96.1
Beats That Move You

Now Playing:

Loading...
Listen on

Salim Mehajer Has BIG Money Worries To Deal With

Salim Mehajer has found himself in some serious hot water yet again.

The former politician and property developer is embroiled in a federal court battle to reduce a tax bill issued by the Australian Tax Office for a company owned by his family.

The former deputy mayor of Auburn Council is claiming that there is no profit for the Australian Tax Office to have a share of, Fairfax Media reports.

However the ATO claims they are owed a share of a reported $4million windfall.

The battle with the ATO is related to a block of land in Auburn, that has reportedly rocketed in value after its purchase by company majority owned by Salim. 

... I wish I can copy and paste you here......🙈

A post shared by Official ᴱᴺᵀᴿᴱᴾᴿᴱᴺᴱᵁᴿ (@salim.mehajer) on

It’s the same block that resulted in his suspension in January 2016, after it emerged that he had voted in favour of rezoning the land surrounding the property, without declaring his ownership. 

Following the decision, the properly skyrocketed in value and Fairfax Media reported on Monday that the property was sold last year for $8 million, resulting in a company profit of more than $4 million for Salim. 

And the ATO want a chunk of it.

Salim is arguing that the profit from the property was not ordinary income and their taxable income for the year was zero so that $4.28 million should not be counted towards it.

Salim has had his fair share of scandals in the last 18 months since his lavish wedding ceremony to now estranged wife Aysha Learmonth.

We’ll have to stay tuned to see how this one plays out. We’re guessing, it’s not going to be pretty.

Source: news.com.au

Share this: