Anthony Klan

10 March 2021

A private, rich-lister owned, aged care giant at the heart of a string of abuse scandals – and which operates its sham “headquarters” from an offshore tax haven – has been inexplicably handed a massive $25 million bonanza by the Federal Government.

TriCare, owned by Queensland’s ultra-wealthy O’Shea family, received $103m from taxpayers last financial year, up from $77.7m on 2018, analysis of federal Department of Health data reveals.

That’s an unexplained $25.4m – or 33% – increase, despite TriCare now actually operating fewer beds.

….

In May 2018 the Australian arm of the Tax Justice Network, a global analyst and advocacy group that specialises in investigating tax-evasion and tax havens, produced a report exposing serious concerns about TriCare’s offshore structure.

The report, Tax Avoidance by For-Profit Aged Care Companies, described Tri-Care’s lack of transparency as “alarming” and found the company was involved in “significant related party transactions that could be used to minimise taxable profits”.

“If there are no tax benefits for TriCare through the Norfolk Island ownership, then why maintain that complicated structure?”

Jason Ward, CICTAR

Read the full article here.