According to the ATO data,WX Trading’s taxable income was only $5.9 million,and it paid $1,774,084 in income tax during the year.
The company counts three Millennials – Dongtao Yu,Zhang Li and Wiuxaun Lui,all born between 1993 and 1995 – from Melbourne and Canberra as its directors. Lui and Yu are also both directors of another Australian-registered company,WX Capital,which was set up in 2021.
WX Capital is tied to a cryptocurrency trading firm operated out of Hong Kong and Singapore that bears the same name.
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Both WX Trading and WX Capital list their principal place of business as an office suite inside a tired-looking office building on Northbourne Avenue in Canberra suburb of Turner. The same suite inside the Northborne office also holds Canberra property development companies tied to the Yu family – Coda Property Group and TLF Taofei.
The Yu family has strong ties to Australia and recently sold their large home in the Melbourne blue ribbon suburb of Brighton for $9.2 million,according to property records. Dongtao Yu listed the Brighton home as his home address on company records. The family also lists a Kenneth Oliphant designed house in Forrest,Canberra,as their home address.The Age andSydney Morning Herald were unable to contact the directors of WX Trading,either directly or through family businesses.
The large gap between WX Trading’s income and its taxable income might be explained by the company’s business.