A company formerly owned by a major building firm reportedly owes $22.8million to the tax office.
The company, which used to be known as Maxcon Developments Pty Ltd but is now listed as ACN 152 259 839 Pty Ltd, allegedly has unpaid taxes dating back to 2014.
The business was taken to the Federal Court by the Deputy Commissioner of Taxation who is arguing it should be wound up.
A notice of application for winding up was submitted on July 26, and the matter was heard last Friday.
Maxcon Developments was a company within Maxon Constructions, which has disputed the allegations, news.com.au reported.
‘Maxcon Constructions Pty Ltd and its director deny any allegations of any wrongdoing or that any tax is outstanding and will proceed to defend the allegations to the fullest extent of the law, but otherwise cannot make any further comment as the matter is currently before the court,’ the spokesperson told the publication.
Maxcon Developments had been operating since 2011 but was deregistered by ASIC in June and no longer provides any services.
Maxcon Constructions is based in Melbourne and has completed more than two dozen commercial projects around the city including hotels and apartment blocks.
The debts Maxcon Developments is alleged to have are from 2014 to 2020.
About half of the $22million is due to penalties for not paying off the debts, the publication reported.
The business will have to re-register itself with the ATO in order to dispute the claims.
The matter is due back in court next Friday.
Maxcon Developments changed its name in 2022.
Maxcon Constructions was founded in 2006.