Q&A’s Duncan Storrar named in Panama Papers

12 May, 2016. 17:45

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SELF-CONFESSED TAX PAYER and welfare recipient Duncan Storrar shot to fame earlier this week after going into bat for Aussie battlers on ABC’s Q&A.

This morning, he’s famous for another reason.

Alongside this morning’s revelations surrounding Prime Minister Malcolm Turnbull’s involvement, the 45-year-old father of two was once a director of an offshore company set up by Mossack Fonseca, data from the Panama Papers shows.

Despite declaring on national television that he was doing it hard, that he was broke, this latest development says anything but.

Mr Storrar has addressed the allegations, saying he wasn’t aware that the small logistics company he was named a director of was, in fact, incorporated in the British Virgin Islands through services provided by Mossack Fonseca.

The company, Storrar & Nephew Pty, has been linked to a number of small contracts to deliver goods such as milk and newspapers in the greater Geelong area – whereby most of the invoices were paid to an offshore company.

From 1994 to 2011, Storrar worked sporadically as a delivery driver for the company, despite being on the board. This was to maintain the illusion of being a low-income worker, which his Australian bank accounts would reflect.

But, the real story is much different.

“I pay tax, just like everybody else,” said the downtrodden Victorian.

“But I’m no longer a director of Storrar & Nephew and had I known the company structure as it’s been outlined today, I would’ve made arrangements to have that rectified so we’d be paying the correct amount of tax.”

“Like that rich guy once said, if you don’t minimise your tax debt, then you ought to get your head read.”

Mr Storrar’s financial activity from 1994 onwards is now subject to an ongoing Tax Office investigation, in partnership with the Australian Federal Police.

Should the Geelong resident be linked to any misconduct linked to his position as a director of  Storrar & Nephew, then he may face possible gaol time.

More to come.