Two men were today sentenced to jail by the Melbourne County Court for tax fraud and money laundering offences.
Chi Vien Duong, 42, was sentenced to five years and six months jail and his business partner Nhon Anh Khuu, 45, to four years and six months.
The two men ran a labour hire and poultry sales business which they used to over-claim GST input tax credits of $1,164,609 by creating a number of fake subcontractor companies.
They also used a round robin money laundering scheme - paying employees in cash that was not declared to the Tax Office - to avoid pay as you go withholding tax and Medicare levy surcharges. The scheme also allowed them to hide cash income of $2,046,846.
The total amount defrauded was about $4.7 million.
Is the penalty long enough?
Chi Vien Duong, 42, was sentenced to five years and six months jail and his business partner Nhon Anh Khuu, 45, to four years and six months.
The two men ran a labour hire and poultry sales business which they used to over-claim GST input tax credits of $1,164,609 by creating a number of fake subcontractor companies.
They also used a round robin money laundering scheme - paying employees in cash that was not declared to the Tax Office - to avoid pay as you go withholding tax and Medicare levy surcharges. The scheme also allowed them to hide cash income of $2,046,846.
The total amount defrauded was about $4.7 million.
Is the penalty long enough?
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