Liquidation battle for national brokerage

by Calida Smylie27 Mar 2014
The Australian Tax Office is attempting to liquidate a nationwide-brokerage with offices in five states.

The ATO has filed a winding-up application against Rapid Finance, which will be heard in the Federal Court of Victoria on Monday.

A tax office spokeswoman said she could not give reasons behind the move.
“Due to confidentiality provisions in the Tax Administration Act the ATO cannot comment on any individual's or entity's tax affairs,” she said.

Director Michael Cullinan could not be reached for comment.

The Rapid Finance website states the brokerage has had more than a decade in specialist finance experience and provides a level of service unattainable by all other finance brokers.

The firm offers residential finance, vehicle, personal and equipment loans as well as insurance.

Rapid Finance has 16 staff throughout offices in Melbourne, Sydney, Brisbane, Perth and Adelaide, according to its website.
 
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COMMENTS

  • by brokerbill 27/03/2014 10:33:34 AM

    couldn't happen to a nicer bloke

  • by Country Broker 27/03/2014 11:03:07 AM

    Oh Dear the only reason the ATO seek to do this is simple its unpaid taxation liability.

  • by Keith of the West 27/03/2014 2:27:55 PM

    Must always keep the taxman happy.

    Nothing surer in life than birth, death and taxes!