A multimillionaire real estate investor filmed crawling a flashy sports car into his 57th-floor penthouse has sparked political backlash.
Adrian Portelli, known as “Mr. Lambo” shared photos on Instagram Tuesday of the $2 million car being lifted into the $39 million penthouse in East Melbourne’s Sapphire by the Gardens Tower.
Mr Portelli made headlines last year after appearing on Channel Nine’s The Block where he placed a record-breaking bid for the home renovated by contestants Omar and Oz.
A post describing the car that was craned into his home as “Rich Flex” sparked widespread criticism, with Green Party leader Adam Bandt leading the backlash.
“Labor is giving this guy a $9,000 tax break while people are starving on $52 a day,” Bandt wrote on Twitter.
Mr Bandt was referring to the Stage 3 tax cuts due to come into effect in fiscal year 2024/25 which have been introduced by Scott Morrison’s government and which the Albanian government has so far supported.
Melbourne real estate developer Adrian Portelli’s audacious ploy to use a crane to lift a $2 million race car into his luxury 57th floor apartment has sparked a storm of outrage
The cuts will eliminate the 37 percent marginal tax bracket, lower the tax rate from 32.5 percent to 30 percent, and create a new top marginal tax rate of 45 percent for those earning over $200,000.
That means anyone earning between $45,000 and $200,000 must pay the same marginal tax rate. Voters earning $60,000 are eligible for a $375 tax break, while those earning more than $200,000 are eligible for $9,075.
Richard Denniss, executive director of left-leaning think tank The Australia Institute, tweeted: “The cost of living crisis is really hitting the rich. Continue with $250 billion in Stage 3 tax cuts so more Australians can afford to ‘pack their race car collection into their penthouse.’
Rachel Withers, editor at The Monthly, tweeted a similar comment about the eye-popping spectacle.
“People on JobSeeker get an extra $2.86 a day!” she wrote.
The Albanian government released the federal budget on Tuesday, announcing that the JobSeeker payment will be increased by $2.85 per day, or $40 every two weeks.
ANU professor and former political correspondent Mark Kenny also had his say. “Typically tasteless,” he wrote.
“Why does the media implicitly praise such obscene displays of wealth and ego?”
Mr Portelli, who has an estimated net worth of $350 million, reacted angrily to the criticism.
“Who the hell is this guy trying to use me as a political tool for sympathy,” he captioned a picture of Mr. Bandt.
He added, “People are crying because I have too much money.”
Mr. Portelli is known as “Mr. Lambo” and poses with a hyper car
Green Party leader Adam Bandt expressed his outrage at Portelli’s conspicuous display of wealth
Mr Portelli previously posted pictures of him posing next to the McLaren Senna GTR in his high-rise apartment.
“A first look at the McLaren Senna GTR 57 floors up.” “A big thank you to everyone involved for making this absolutely surreal moment possible,” he wrote.
The 34-year-old bought the luxury penthouse last month in a sale that broke the record for the city’s most expensive apartment at a whopping $39 million.
However, he only wants to use it as a weekender.
The businessman, known as “Mr. Lambo’, told realestate.com.au he decided to buy the flat the same day he saw it because ‘security was in place’ and it was a ‘blank canvas’ .
He also admitted that one selling point is the penthouse’s direct connection to the second tower, which is set to house a five-star Shangri-La hotel.
Mr Portelli made headlines last year for boosting the price for the House of Omar and Oz at the finale of The Block.
He opened the bid with $4.5 million – well above the $4.08 million reserve – and his aggressive style resulted in eventual buyer Danny Wallis ending up with a staggering $5,666,666.66 paid for the 10-acre, five-bedroom Gisborne estate.
In a private sale after the auction, he instead paid $4.25 million for Sharon Johal and Ankur Dogra’s home.
In addition to real estate investments, Mr. Portelli also runs his own advertising and giveaway business with a focus on luxury vehicles and prestige homes.
He founded the charity Little Legends Foundation, which provides urgent medical care and experiences to at-risk children.
Stage Three Tax Cuts: How Much They Get You
The abolition of the third stage of the cuts, due to take effect in fiscal 2024/25, sees the elimination of the marginal tax bracket of 37 per cent while reducing the tax rate from 32.5 per cent to 30 per cent for anyone living between 45,000 and 200,000 earn dollars.
A new top marginal tax rate of 45 percent would apply to those earning more than $200,000.
Below, Chron Australia has compiled a list of how much residents get back based on their salaries:
Annual salary tax cut
$45,000 0
$60,000 375
$80,000 875
120,000$1,875
150,000$3,975
$200,000 9,075
$250,000 9,075
$300,000 9,075
Source: Treasury Department calculations, end of 2022