Don't Trust Ted Sent Part 2 -Taxation Department got their man
Ted Sent gets a Tax Hit !!
Yes, it happened. The law and the Taxation Department got their man. The man that I hated for many years and dodged the law continuously, has finally been caught.
Nine years after Ted Sent was sacked from the retirement village company Primelife, the taxation commissioner has caught up with the Melbourne fraudster. The former CEO of Primelife has been hit with a tax bill of $4.3 million and ordered to pay up to $3.3 million in interest, after a tribunal found that part of 5 million Primelife shares Ted Sent received from the company in 2001, was undeclared income.
The Tribunal relates to events that occurred in the year before Ted was sacked by Robert Champion De Crespigny and Ron Walker. After Ted's sacking it was revealed that he paid the underworld figure Mick Gatto $200,000 in cash drawn from the company's fund to "fix up" problems with construction unions or anyone who stands in his way. He was also known to arrange tapping of employee phone calls and the secret taping of board meetings.
Ted Sent has been fighting the Tax office since 2006 when they slapped him with a $2.8 million penalty for dodging tax. This is not his first brush with the Tax Office, he was charged over an alleged tax-minimisation scheme involving scallop fishing boats in 1988, however the charges were dropped. Funny about that !
Ted Sent has now lodged an appeal and why am I not surprised. He will still drag this one for years as usual.
The latest news about Ted Sent - He lost his six year fight with the Tax man. Next will be court of appeals from other victims.
- Sent loses six-year fight with tax man
The once-head of a retirement village company, Ted Sent, has lost a six-year-long battle to escape tax on bonus payments, after the full Federal Court sided with the tax man and hit him with an $11.6 m. tax bill and a 50% penalty for his troubles.