Sydney property developer Peter Sleiman has been slapped with a $7 million tax bill and fines on the $8 million income on his family trust, after a tribunal found he claimed “implausible” tax deductions of 65 cars, $37,000 worth of fitness equipment and firearms on his property renting business.
Mr Sleiman, a property developer in Sydney’s west, had not lodged returns on his family trust, Peter Sleiman Investments Pty Limited, for financial years from 2008 to 2010, saying the “returns were not necessary”.
Later as part of its audit the Australian Taxation Office found the family trust had a taxable income of $8 million between 2008 and 2010, and it owed the ATO $3.7 million in tax plus a $3.3 administrative penalty for fai…
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