Adrian Portelli claims $100m tax paid before moving to Dubai
Adrian Portelli says he paid over $100 million in tax, including $80 million in one 24-month period, before moving to Dubai.
Trade lottery mogul Adrian Portelli has criticised Australia's tax system after moving to Dubai. On a podcast, he said he paid well over $100 million in tax and had no problem with that.
Portelli became frustrated by what he called relentless attacks despite his contributions. Portelli claimed the ATO took about 80 per cent of his revenue at one point through advance tax payments based on what he was expected to earn.
When his business earnings dropped after a strong year, he still owed tax based on the higher forecast. Portelli said he had explored moving overseas for several years and chose Dubai for its infrastructure and ease of international business.
He denied fleeing to avoid scrutiny.
- Over $100 million
- Tax paid
- $80 million
- Tax in 24 months
- 80 per cent at one point
- Revenue taken by tax
- LMCT+
- Founder of
Why it mattersHis comments highlight frustration from wealthy individuals about Australia's advance tax system. It requires payments based on forecast earnings before the money is actually made.
AustraliaNo direct Australian effect yet, but wealthy business owners and investors may take interest in his criticism of advance tax payments and ATO oversight.
✓ Claims checked against the source and corrected before publish. checked 3 h ago
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