A failed company run by the Sydney IT executive who has suddenly come to prominence as a possible Bitcoin founder is at the centre of a heated dispute with the Australian Taxation Office involving millions in disputed tax credits and a $1.7 million penalty.
Craig Steven Wright’s company, Hotwire Pre-emptive Intelligence, is now in the hands of administrators McGrath Nicol who, in a recent update to creditors, revealed the ATO had issued the penalty against the tech company.
Wright’s home in Sydney was raided by federal authorities today, just hours after he was named by two major US tech titles as one of the potential masterminds behind Bitcoin. The cryptocurrency’s creator has always been a mystery.
At the centre of the dispute is Hotwire’s 2014 tax return and some $3.4 million claimed as GST tax credits. Hotwire’s tax return also gives rise to a $5.5 million income tax refund, but Business Insider understands this has