Liberal MP John Sidoti told the corruption watchdog that he did not know what he was signing when the accountants presented him with documents on his family’s super fund and that he thought it was « my role as a son » to support his family’s « tax reduction program » .
The NSW MP took a position with the Independent Commission Against Corruption Tuesday to see if he was using his position to rely on Canada Bay Council to support his family’s property interests in Five Dock.
ICAC has heard that Sidoti has pressured city councils to reorganize the land held by his parents and their legal entities.
Sidoti said he had been signing documents for his parents’ family superannuation trust since 1992 – but he didn’t know what they meant.
Sidoti spent much of his life with his parents running and running the Five Dock functional center while his parents ran the kitchen.
He said he did not know what a beneficiary or trustee was – and did not understand that he was a beneficiary of the Sidoti family trust until the ICAC started asking questions.
Sidoti realized that as a MP he had signed documents for the trust and said he did not know he was a trustee.
« I just signed the family tax reduction program, » he said.
Sandra Sidoti, the politician’s wife, stood before the commission earlier in the day and gave similar evidence that year after year she was signing tax papers without knowing what they meant.
« I trust my accountant … I have complete confidence in him, so I haven’t questioned it, » she said.
Ms. Sidoti said she was unaware of $ 720,000 that was recorded as income from a property sale in 2016 or the $ 360,000 capital gain that was reported on her tax return that year.
Her husband’s attorney asked Ms. Sidoti if she would expect about $ 720,000 to flow into her bank.
Ms. Sidoti also said she was unaware of tens of thousands of dollars of income recorded in other years or a letter presenting a tax bill of $ 139,000.
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