A construction company that is linked to a major builder in Australia is in danger of going out of business due to its outstanding $21 million tax debt.
The tax office took the company to court last week and asked that it be wound up. A spokesperson for the company indicated that it would challenge the court’s decision.
The company, which used to be called Maxcon Developments, had reportedly not paid taxes since 2014. According to the tax office, it had a total debt of over $21 million.
Its closure is the result of the company’s failure to meet its obligations.
One of the major builders in Melbourne is Maxcon Constructions, which has completed projects in Queensland and South Australia.
A spokesperson for Maxcon Constructions said that the company was contesting the tax office’s claims.
They also noted that they would fight the allegations against them. The spokesperson said that the company and its director were not guilty of any wrongdoing.
The firm was previously based in Flinders Lane. In May 2022, it changed its name to Maxcon Developments and relocated to another location in Melbourne.
Its registered office was then transferred to another city. Dimitrios Diakou, a lawyer, became the new director of the company.
Established in 2011, the company was known for providing support services to the construction industry.
It stopped trading in 2020 after failing to meet its tax obligations, which were from 2014 to 2020.
Around half of the company’s outstanding debt is from penalties and interest charges.
In June this year, the Australian Securities and Investment Commission (ASIC) removed the company from the register.
It was usually a case of if a company believes that it is no longer in business, as long as it has not paid its annual fees.
To avoid falling under the regulatory agency’s scrutiny, Maxcon Developments must apply to be reinstated on the register.
The tax office took the company to court last year. The case was dismissed in December.
Maxcon Developments is scheduled to appear in court again on August 23.