What Australians need to know about tax residency and the ATO

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Share A A A Adrian Portelli’s rationale for moving to Dubai, at least in his telling, is pretty simple. Australia is “chasing away success”, according to the Melbourne-born billionaire, and entrepreneurs like him will keep leaving with one-way tickets because of exceedingly harsh tax settings.

“I don’t trust the government,” Portelli told Karl Stefanovic in a new episode of the broadcaster’s podcast. “They’ve really come down on me.

Billionaire Adrian Portelli has moved to Dubai, and told Karl Stefanovic he doesn’t “trust” the Australian government. AAP “I’ve had regulatory issues to ATO [Australian Taxation Office] issues, and I just can’t handle it.”