Saturday, March 23, 2013

Tinkler marriage split rumours - Sydney Morning Herald


Nathan Tinkler

A 'very lucky man' : Nathan Tinkler has been drawing cash from his wife's trust tax-free. Photo: Nick Moir



Nathan Tinkler told a packed courtroom a week ago he was ''very lucky'' to have access to tax-free income from his wife Rebecca's family trust, worth as much as $1.4 billion.


But Mr Tinkler's luck may be running out amid swirling rumour he has split with Rebecca, who has moved into their Maui mansion with their four children, aged four to 12.


Mr Tinkler, a Singapore resident, was seen at last weekend's Melbourne Grand Prix in close company with long-time executive assistant, Tinkler Group administration manager Jodie van Gilst.


Happier times: Nathan and Rebecca Tinkler.

Family trust but separate homes: Nathan Tinkler and wife Rebecca.



Mr Tinkler's Hunter Sports Group had a car running in the second round of the Porsche Carrera Cup last weekend, driven by Steven Johnson and placing fifth.


A spokesman said Mr Tinkler and Ms van Gilst were at the grand prix on business and denied all suggestion of a split with his wife.


Over the previous two days Mr Tinkler was in Sydney giving sensational evidence in the Supreme Court, during examinations by the liquidator of his shelf company Mulsanne Resources, which was wound up last year over an unpaid $28.4 million debt to listed coal company Blackwood Corporation.


Mr Tinkler, who faced possible arrest if he did not turn up to the examinations, told the courtroom that his wife Rebecca was the sole trustee and unit-holder of the Tinkler Group Family Trust, which held most of the assets of his business empire including various properties, his 19.4 per cent stake in Whitehaven Coal, the unlisted explorer Aston Metals, the Hunter Ports, Hunter Rail and Hunter Sports Group, and the Patinack Farm thoroughbred stud.


Mr Tinkler declared just $9834 in personal taxable income in the 2011 tax year.


Mr Tinkler told Robert Newlinds, SC, the liquidator's barrister, that he was able to draw cash from his wife's trust tax-free.


''Is that what happens?'' Mr Newlinds asked, ''your wife gives you money from time to time?'' Mr Tinkler replied: ''I'm very lucky, yes.''


Mr Tinkler's financial situation has been subject of intense speculation as the value of his main asset, the Whitehaven stake, has fallen 40 per cent this year.


There has been a string of legal actions including initiation late last year by the Tax Office of wind-up proceedings against the entities that own football clubs the Newcastle Knights and Jets. The Knights dispute has been resolved but a dispute over the Jets tax bill is continuing.


Mr and Mrs Tinkler moved to Singapore's Sentosa Cove last year, although reports last September suggested they lived in separate, rented homes. Mr Tinkler's Queen St Property Holdings paid $US15 million for a six-bedroom mansion in Maui's exclusive Makena district in 2011.


A relative of Ms van Gilst's based in Queensland was not prepared to comment. Mrs Tinkler could not be contacted.



No comments:

Post a Comment