28 Nov 2019 Victorian woman sentenced to jail for GST fraud
A Victorian woman has been sentenced to two years and 10 months in jail for GST fraud of $1.7 million.
Between 2005 and 2011, Ms Simone Semmens, purchased, developed and sold 10 luxury properties in Toorak, Portsea and Caulfield North.
Ms Semmens carried out extensive work on the properties, developing and subdividing them before selling them for a profit. She sold these properties for more than $20 million and made a total profit of more than $4.4 million.
She claimed the properties were for personal use, but she was carrying on a business and should have been registered for GST, lodging BAS and reporting the property sales. By choosing not to, she evaded paying $1,738,636 in tax.
Read more here.