Taxman's claim for a share of gambling winnings places MONA's future at risk

Fears that Hobart's wildly successful Museum of Old and New Art may close if the Australian Tax Office goes after the eccentric gaming mogul and art collector behind it have sparked widespread concern in Tasmania where it has become a tourism boon for the debt-ridden state. David Walsh's $180 million museum has drawn 600,000 visitors in its first 18 months and is Tasmania's single most visited attraction, but it costs him around $8 million annually to keep the museum open, a contribution that may be at risk in the light of the ATO's claim that he has been running a $2.4 billion gambling business and owes $37 million in backdated taxes.
Image: Museum of Old and New Art, Hobart

David Walsh says a $40 million tax bill won't force the closure of his Museum of Old and New Art

The Museum of Old and New Art is back in the news with reports that mathematician turned gambler David Walsh is in the sights of the Australian Tax office. The ATO says Walsh and others in a secret punter's club have been running a A$2.4 billion global banking business and wants taxes due. At last count Walsh faces a tax bill of just under A$40 million, which he disputes.

As the details became public, he was being asked whether this spelled the end of MONA. But Walsh remains upbeat, saying he is confident an agreement can be reached with the ATO and that he is determined to keep MONA running.
Image: David Walsh, founder of Hobart's Museum of Old And New Art