AFR’s Street Talk column triggered $207m freeze order on Nature’s Care founder Wu family

  • 📰 FinancialReview
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 90%

Australia Headlines News

Australia Latest News,Australia Headlines

The rich Taiwanese-Australian family behind the Nature’s Care brand lied to the tax office about their income, court documents allege.

Already a subscriber?The tax office imposed a $207 million freezing order on a wealthy Taiwanese-Australian business family after reading inCourt documents show the tax office also considers Wu family, which founded the Nature’s Care vitamins business, to be a flight risk. The documents show the tax office believes they have a history of failing to disclose all their income.

A global freezing order was granted on December 20 by Federal Court judge Nye Perram after the tax office told him “there is a real danger that assets which would otherwise be available to satisfy any judgment that the applicant will obtain against the respondents will be dissipated”. The family said through a spokesman: “formal objections have been lodged in respect of the amended assessments in accordance with the ATO’s usual appeal process, and the Wus are awaiting the outcome of that process.”The Wus are involved in a separate legal case over control of Nature’s Care with their Chinese business partners. The business “appears to be the only asset in Australia owned by them pursuant to which they will be able to satisfy their tax liabilities,” according to the tax office.

Source: Law Daily Report (


Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in AU

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Aged care providers publish what they spend on food, care and wagesThe new tool is designed to hold aged care providers to account for how they manage their budgets. But it’s only as good as the data provided.
Source: FinancialReview - 🏆 2. / 90 Read more »

Wealthy Boomers should use super for aged care: taskforceA government-appointed taskforce says a special aged care levy would not be fair to future generations when older Australians are retiring with growing levels of wealth.
Source: smh - 🏆 6. / 80 Read more »

Aged Care Taskforce rejects tax levy and proposes funding based on personal wealthA taskforce reviewing funding for aged care has rejected the idea of a tax levy to cover the sector's costs and instead suggested Australians accessing care should pay more based on their personal wealth.
Source: abcnews - 🏆 5. / 83 Read more »

Wealthy older Australians should pay more for aged care services, expert panel recommends‘Strong case’ to increase co-contributions for people with means, as there will always be some who need more government support, report says
Source: GuardianAus - 🏆 1. / 98 Read more »

Cost of aged care could rise in Australia under Fed Govt reformsAustralians may have to contribute more for their aged care under reforms being considered by the federal government with a report on the issue expected to be released by Aged Care Minister Anika Wells as early as Tuesday.
Source: SkyNewsAust - 🏆 7. / 78 Read more »