Banned Chinese political donor Huang Xiangmo and his wife are challenging a freezing order placed on their Australian assets in relation to a $140 million tax bill claim.
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The Federal Court on Wednesday ordered the couple's local assets be frozen to service the nine-figure tax bill issued by the Australian Taxation Office on September 11 for the 2013, 2014 and 2015 tax years.
The case was mentioned before Justice Anna Katzmann on Friday when Gerald Ng, lawyer for Mr Huang and his wife Jiefang Huang, sought an expedited hearing on a challenge to the freezing order.
Also known as Huang Changran, the Communist Party-aligned businessman has been implicated in several recent political scandals.
His association with Sam Dastyari led to the Labor senator's downfall and he remains a central figure in a NSW anti-corruption commission inquiry over a $100,000 cash donation given to the NSW Labor Party.
The property developer left Australia for China on December 4, 2018, amid the tax audit, and was later banned by security agencies from re-entering Australia or obtaining a passport.
In Wednesday's judgment, Justice Katzmann said Ms Huang left Australia "presumably" to join her husband on September 11, the same day the ATO issued issued a notice of assessment of shortfall penalty for $140,925,953.98.
Her ruling revealed details of the Huang's wealth, including that as at June 30, 2018, the family trust had loans owed to it exceeding $165 million.
Assets on the freezing order included two Chatswood homes worth an estimated $3.28 million and a $12.8 million Mosman mansion.
The challenge will be heard in the week beginning September 30.
Justice Katzmann also gave Mr Ng until 4pm on Tuesday to make any application for suppression orders relating to her intention to grant media access to the ATO's accompanying affidavit and submissions.
Australian Associated Press