A business identity and renowned real estate coach faces the winding up of his company over allegedly failing to pay a decade-old tax bill.
A business identity and renowned real estate coach faces the winding up of his company over allegedly failing to pay a decade-old tax bill.

Millionaire business identity faces company wind-up

A MILLIONAIRE real estate coach and keynote speaker is facing the winding up of his business after he allegedly failed to pay a tax bill dating back over a decade.

The Deputy Commissioner of Taxation has applied to wind up Sheargold Coaching Systems Pty Ltd (SCS) in the Federal Court in Brisbane.

SCS is wholly owned by Michael Leslie Sheargold, 57, from Sorrento on the Gold Coast, according to records held by the corporate regulator the Australian Securities and Investments Commission.

Mr Sheargold owns a $2m waterfront home on the Gold Coast. Picture: Jerad Williams
Mr Sheargold owns a $2m waterfront home on the Gold Coast. Picture: Jerad Williams

The Commissioner filed its application in court on December 3, three months after it slapped SCS with a creditor's statutory demand for payment for $135,030.

The Commissioner alleges SCS failed to pay the debt within the three week deadline.

The debt is made up of $64,847 in Business Activity Statement debt, $31,245 in income tax from the 2009 financial year, $15,696 in income tax from the 2013 financial year as well as other amounts for 2014 and 2016, court documents state.

Mr Sheargold has been a director of SCS since 2008.

Real estate coach Michael Sheargold. Picture: Jerad Williams
Real estate coach Michael Sheargold. Picture: Jerad Williams

Mr Sheargold remains a director of real estate coaching company Drive Performance Corporation Pty Ltd which runs "bootcamps" for real estate agents nationwide.

He is a former director of digital real estate start-up Followit Australia Pty Ltd, which launched in 2016 to alert renters when a property they're interested in was up for rent.

He stepped down as a director in October 2016, according to ASIC records.

He is also a former director of business coaching franchise company 10X Global Pty Ltd, and 10X Limited.

He stood down from the 10X group of companies in December 2010, two years before administrators were appointed.

Mr Sheargold owns a swanky $2m waterfront home on the Isle of Sorrento on the Gold Coast, property records show.

He put his four-bedroom home up for rent for $2400 a week three months ago, property records show.

The case is set for hearing before a registrar on January 31 in Brisbane.

Mr Sheargold failed to respond to requests for comment.