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”.