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Chinese couples have been targeted by the Australian Taxation Bureau on 6 luxury homes all confiscated! Punish him for losing his fortune.

 
[Economic News]     13 Dec 2018
/ forewordReal estate has always been regarded as the best value-preserving investment, and Chinese are particularly fond of buying houses. But really, the more houses, the better?

/ foreword

Real estate has always been regarded as the best value-preserving investment, and Chinese are particularly fond of buying houses. But really, the more houses, the better?

A Chinese couple has been "targeted" for having too many properties.

Chinese couples have been targeted by the Australian Taxation Bureau on 6 luxury homes all confiscated! Punish him for losing his fortune.

Temptation of interests

Abroad, many Chinese have multiple properties under their name, and the concept of "house to house" prevails: renting out a loan-bought house and paying off a loan at rent.

A good location, such as an apartment in the center of the city or near a school, is very expensive and has a surplus after the month.

, Chi Van Ho), 52, owns at least six properties together with his wife, Ms. Ruan, and they go deep into the real estate industry and set up several real estate-related companies. For example, a property company named "he Jinlong (Golden Dragon Ho)".

In the past few years, the two men have made a lot of money through "all kinds of operations" (such as speculation, renting, flipping, etc.). In many people`s eyes, the two of them are examples of success in their struggle abroad.


2. Black-hearted landlords

However, the couple`s local reputation is not good.

If you search the local forum or "Chi suites" online, you can find a lot of complaining posts, and even have a room polite enough to post a post on an unrelated website and complain. "I`m so angry, I can only think of posting here," he said. Let more people see the true face of the black-hearted landlord! "

For example, the landlords do not pay gas bills, resulting in winter, the house neither heating nor hot water, not even a bath.

For example, even if you pay gas, there is no hot water is also often, the electricity will often be stopped.

Even more unbearable is the poor hygiene of the house, tenants in the bed actually saw a circle of mold …

Worst of all, the landlords don`t care about the feelings of the tenants, or their complaints, the blackouts, the water stops, some people quit and they don`t clean up well, just rent them to the next tenant.

After all, they just want to make money, the rental agreement is signed, the money is in the pocket, the other place can buckle crazy kickoff.


3. Tax evasion

Although the word of mouth is poor, rental housing problems, but tenants continue to flow, because of the shortage of housing, supply exceeds the supply of landlords, the last thing to worry about is no one to rent a house.

Just by renting a house, speculation, he Ruan husband and wife have already earned more.

As a result, the two men were "targeted" by the Inland Revenue Department.

Sure enough, the black-hearted landlord dishonest, independent tax filing process, a total of less than $3114100 in the declaration of property, which means that the black-hearted landlords to evade tax more than half a million, was sued by the tax bureau.

The court did not disclose the actual income of defendants because they protected their privacy, but based on undeclared income alone, the total income should have been $4 or 5 million.

As a result, the Inland Revenue Bureau directly aggressive, the real estate of two people to implement the freeze measures.

Previously, such penalties had been used only in money-laundering cases, but this time six of his homes and luxury cars had been temporarily frozen and confiscated.

He Ruan, who made his fortune by his house, regretted it.


Last,

At present, the inspection of tax evasion is very strict. There are ice events in China caused by the entertainment industry tax subsidies, foreign couples jointly evade taxes were confiscated assets.

Tax is used in the construction and development of society, although wool comes out of the sheep, but everyone will benefit from it.

Therefore, we must be honest tax returns, law-abiding good citizens.

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