Former Goldman Sachs Executive Gets A $1 Million Tax Bill For Not Paying His Land Taxes


A former Goldman Sachs executive, Alastair Walton, has been slammed with a $1 million tax bill after failing to pay land taxes on his $30 million Sydney waterfront estate.

The Sydney Morning Herald reports the NSW revenue authorities discovered Walton hadn’t paid land tax on his seven-bedroom home between 2009 and 2011.

The matter came to the attention of the Office of State Revenue after a disgruntled tenant revealed Walton was not paying land tax despite charging $35,000 a month in rent.

Walton attempted to seal the legal proceedings with confidentiality and suppression orders in the NSW Civil and Administrative Tribunal, but failed.

Fairfax Media estimates the land tax owed on the property to be more than $940,000.

The property has since been put on the market with an asking price of $30 million.

Walton is a former chairman and managing director of Goldman Sachs, and is a founding member of investment bank BKK Partners, the firm the former treasurer joined in 2009.

Read more here.

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