Adrian Portelli has said he paid more than $100 million in tax before relocating to Dubai, using a podcast appearance to deliver a blistering criticism of Australia’s tax system and the reach of the Australian Taxation Office.
Speaking on the One on One with Kris Fade podcast, the Melbourne-born LMCT+ founder rejected claims he had left Australia to escape scrutiny. He said the move had long been in the works and argued authorities hold enormous power over taxpayers.
Portelli, 36, said he still loves Australia and called it “the best country in the world”. But he also questioned whether taxpayers were getting proper value in return for what they contribute, drawing a contrast with Dubai’s infrastructure and public safety.
“When I’m being attacked from every angle, I said, ‘You know what, you’re not getting any of my money’,” he said.
“So if anyone judges me for moving abroad, would you pay $80 million in taxes and be treated like a criminal, and get nothing back for it?”
He said the decision to leave was not a sudden response to tax pressure and insisted it had been under consideration for several years.
“We were always going to do that,” he said.
Portelli said Australia’s distance from the rest of the world made international business harder, and explained that his family had first looked at Singapore, then considered Italy, especially the Lake Como region, before eventually choosing Dubai.
He said authorities had been kept informed during the process.
“We were in touch with the ATO, they had all our details,” Portelli said.
Portelli said he did not object to paying tax, but became increasingly frustrated by what he described as constant attacks from government, the media and the public despite handing over millions.
“I’ve paid well over $100 million in taxes,” Portelli said.
“I don’t have a problem with paying tax.
“In 24 months, I paid $80 million in tax … I’m supporting the country that’s giving me this opportunity.”
He said the system became especially difficult when businesses were required to pay tax in advance based on expected earnings. According to Portelli, LMCT+ had a strong year and then saw revenue fall back, leaving him with tax liabilities calculated from higher projections.
“We had a good year one year and the next year we might not have as much of a good year,” he said.
“They estimate what your business is going to earn, so you pay your taxes a year ahead before you even make the money.
“I am paying the taxes I already owe, plus instalments.”
Portelli claimed that at one point the burden effectively meant authorities were taking “80 per cent” of his revenue.
“I said ‘this is ridiculous’,” he said.
He also directed broader criticism at the ATO, saying the agency had sweeping visibility over his finances and significant powers over taxpayers. He said he was regularly audited and claimed the office had access to his banking information and financial records.
“They can do whatever they want,” he said.
“Who is going to question them, unless you take them to court?”
“It’s scary to know how much control they actually have,” Portelli said.
“I think it’s a control game.”
In some of his strongest comments, Portelli suggested his rising public prominence had brought unwanted attention.
“I was getting too big for them, I had too much influence over the public, and they don’t like noise there,” he said.
“They want to keep everyone at bay. I noticed that with the ATO.”
Portelli has built his wealth through LMCT+ promotions and property investment. Estimates of his fortune have ranged from hundreds of millions of dollars to more than $1 billion, although he has never publicly revealed his exact net worth.
He added that even after moving overseas, Australian authorities still receive tax revenue from him through his business interests.
