Search results

Its how Wickenby grew too. Heaps of lodoc reviews in early 2000's and the ATO smelled a rat comparing tax income with loan repayments and declared income. Where were these people getting funds from. Offshore "gifts, loans etc"...A deeper review. .. Led them to monitor a few offshore advisers...

Also be aware that lodoc and nodoc loans can raise an ATO audit target on your back. The ATO have audited many such borrowers who signed off on declaratiosn that they earned sufficient income to support a loan of say $1m...Then they made loan repayts on that loan. However, their personal tax...