Raiz Invest reports tax compliance issues dating to 2015

• Raiz Invest identified historical tax withholding and reporting issues across three of its funds dating back to 2015.
• The company notified regulatory bodies and noted that it cannot yet reliably estimate the potential financial impacts.
• Management has appointed WTS Australia to lead an independent expert review and initiated a board-directed remediation programme.

Raiz Invest (ASX:RZI) has uncovered historical tax compliance issues dating back to 2015 after a review of operations.

The issues were identified during an operational review initiated by CEO Craig Keary following his appointment on June 1.

WTS Australia completed the first phase of an independent expert review, which showed that required withholding taxes and related reports were not submitted to the Australian Taxation Office.

The board stated that it cannot yet reliably estimate the potential financial impacts, which may include tax liabilities, penalties, and interest.

Raiz Invest confirmed customer funds remain secure with independent custodians, and members of the Raiz Invest Super Fund are not affected.

Following the announcement, the Raiz Invest share price was unchanged at $0.35.

For the 2026 financial year, the company reported underlying EBITDA of $5.5 million and free cash flows of $2.7 million.

As at June 30, the company held $15.4 million in cash reserves while continuing its ongoing engagement with regulators.