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

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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 (lawdailyreport.net)

 

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