Australian entrepreneur Adrian Portelli has launched a broadside against the country’s tax system, claiming he paid more than $100 million in tax before relocating to Dubai.
The LMCT+ founder rejected suggestions that he moved overseas to escape scrutiny, saying the decision had been planned for years. He made the remarks on the One on One with Kris Fade podcast.
Portelli, 36, said he had no objection to paying tax but had become frustrated by what he described as sustained attacks from government, the media and the public despite his contribution to Australia’s finances.
“I’ve paid well over $100 million in taxes,” he said. “I don’t have a problem with paying tax.”
He claimed that he had paid $80 million in tax over a 24-month period, adding: “I’m supporting the country that’s giving me this opportunity.”
Adrian Portelli’s claims about the ATO
Portelli said the tax burden became particularly difficult when businesses were required to make advance payments based on projected earnings. He claimed LMCT+ later experienced a weaker year after a period of strong revenue, while his tax obligations were calculated using earlier forecasts.
“They estimate what your business is going to earn, so you pay your taxes a year ahead before you even make the money,” he said. “I am paying the taxes I already owe, plus instalments.”
Portelli claimed the arrangements had at one stage left authorities taking “80 per cent” of his revenue, prompting him to say: “I said ‘this is ridiculous’.”
He also accused the Australian Taxation Office of having extensive access to his financial affairs and said he had been subject to regular audits.
“They can do whatever they want,” Portelli said. “Who is going to question them, unless you take them to court?”
He added: “It’s scary to know how much control they actually have. I think it’s a control game.”
Portelli suggested that his growing public profile had contributed to the scrutiny, claiming: “I was getting too big for them, I had too much influence over the public, and they don’t like noise there.”
He said his family had initially considered Singapore and later Italy, particularly the Lake Como region, before choosing Dubai. Portelli maintained that Australian authorities had been kept informed during the process.
“We were always going to do that,” he said. “We were in touch with the ATO, they had all our details.”
Although he described Australia as “the best country in the world”, Portelli questioned whether taxpayers received sufficient value in return for their contributions. He contrasted the country with Dubai’s infrastructure and public safety.
“When I’m being attacked from every angle, I said, ‘You know what, you’re not getting any of my money’,” he said.
Portelli said his Australian business interests continued to generate tax revenue despite his relocation overseas. His wealth has been estimated at between hundreds of millions of dollars and more than $1 billion, although he has not publicly disclosed his exact net worth.
