Adrian Portelli Moves to Dubai After Criticising Tax Office

The LMCT+ founder has relocated overseas after citing frustration with Australia's tax system and high fiscal burden.

Updated on Oct. 21, 2026 in Taxes

Modern office interior with polished marble and floor-to-ceiling glass looking out toward a distant desert skyline. — LMCT+ founder Adrian Portelli has relocated to Dubai, citing dissatisfaction with Australia’s taxation system and regulatory scrutiny by the Australian Taxation Office. AI Illustration. Upload story photo >

Live Poll

Do you feel the Australian tax system provides fair value for the taxes you pay?

Adrian Portelli, the 36-year-old founder of LMCT+, has moved his residence to Dubai. He cited frustration with Australia's tax system and the Australian Taxation Office as key reasons for his departure.

Why it matters

Portelli claims he has paid over $100 million in taxes, including $80 million within a 24-month period, and expressed dissatisfaction with the perceived lack of return on these contributions. He also noted that Australia's geographic isolation hindered his international business operations.

Portelli claims he has paid $100 million in taxes, with $80 million paid over a 24-month span. He alleges that as much as 80 per cent of his business revenue was being collected through tax obligations and advance payments.

The players

Adrian Portelli

He is the 36-year-old founder of the business LMCT+ who has recently moved his residence to Dubai.

Australian Taxation Office

This is the principal revenue collection agency for the Australian government responsible for managing tax compliance.

The details

Portelli alleged the Australian Taxation Office maintains extensive access to his banking and financial records, subjecting him to regular audits. He stated that he considered relocating to other hubs such as Singapore and Italy before ultimately choosing Dubai for his new residence.

The tax payments of $80 million were made over a 24-month period.

Market Dynamics

This move highlights tensions regarding the Australian system of advance tax payments based on forecasted earnings, which forces businesses to pay taxes on projections. High-net-worth individuals are increasingly evaluating international domiciles that offer more favourable tax environments.

For business owners, this highlights the necessity of managing liquidity to cover advance tax payments calculated on projected earnings. Taxpayers should ensure their internal records remain compliant, as the Australian Taxation Office retains the authority to conduct regular audits.

The takeaway

Portelli's departure underscores the significant impact that tax policy and compliance monitoring can have on the residency decisions of business founders. Understanding the requirements for advance tax payments remains a critical part of financial planning for Australian business owners.