Anthony @ Equity Investigations, Dear Anthony, Message Board

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To: StockDung who wrote (83071)	1/29/2003 3:59:13 PM
From: SEC-ond-chance	Read Replies (2) of 122087

Unpaid tax action on New Tel chiefs By Fran Spencer THE Australian Taxation Office has targeted the personal bank accounts of New Tel chairman Harry Sorensen and managing director Peter Malone in a WA Supreme Court action aimed at recovering more than $570,000 in unpaid tax. A writ lodged by the tax office in the court last week claims New Tel withheld $571,969 between May 1 and June 30 last year "for the purposes of Division 12 in Schedule 1 to the Taxation Administration Act". A tax office spokeswoman yesterday refused to define the purposes referred to in the writ, saying the Privacy Act precluded comment on individual taxpayers' affairs. However, a tax specialist said that section of the Act was most commonly related to PAYG withholding tax - the money deducted from employees' pay packets. Under the Act, if the company which fails to pay the tax instalments appears to be insolvent at the time of the default, the tax office can pursue directors to recover the money. The writ noted an administrator had not been appointed to New Tel and winding up proceedings had not started by the due dates for the tax payments. "Each of the defendants was a director of the company continuously in the period beginning on May 1, 2002, and ending on June 30, 2002 . . . (and) is liable to pay to the commissioner the total sum of the penalties, which is $571,969," the writ states. Mr Malone and Mr Sorensen were unable to be contacted yesterday. thewest.com.au

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