where is our electricity to come from?

[xelasnave]

And all are occupied on dual citizenship an important matter which should be sorted by an appropriate dept but not take the time that should be used to address these other more important matters. Govt is a business and cash flow should be front of mind.

Who will come forward with proposals how to tax the bandits.

It is outrageous that the government has not addressed tax bandits years ago.

We did get a TV add to settle the mob but clearly the add does not tell the truth and must be seen as helping the tax bandits by letting the public think the govt has done something.

There can be only one reason why nothing is done and that reason is not incompetence.

I get a news feed on my lappy..each day news..never seen anything about this scandal.. but Sophie and similar hot news is always there to take our minds away from anything that may be classed as a real issue.

Alex

Alex

[xelasnave]

Probably no need to worry about going after tax bandits as it seems by taxing superannuation they will get all the cash they need.

alex

[AussieTrooper (Ben)]

Originally Posted by xelasnave

Probably no need to worry about going after tax bandits as it seems by taxing superannuation they will get all the cash they need.

alex

I've been saying that for years. When you have a massive government regulated savings scheme, it is absolutely inevitable that some politician will work out a way to raid it. They'll try to spin it to sound good, but it is still a raid.

[rrussell1962]

Originally Posted by xelasnave

And all are occupied on dual citizenship an important matter which should be sorted by an appropriate dept but not take the time that should be used to address these other more important matters. Govt is a business and cash flow should be front of mind.

Who will come forward with proposals how to tax the bandits.

It is outrageous that the government has not addressed tax bandits years ago.

We did get a TV add to settle the mob but clearly the add does not tell the truth and must be seen as helping the tax bandits by letting the public think the govt has done something.

There can be only one reason why nothing is done and that reason is not incompetence.

I get a news feed on my lappy..each day news..never seen anything about this scandal.. but Sophie and similar hot news is always there to take our minds away from anything that may be classed as a real issue.

Alex

Alex

Probably comes down to a lack of resources and / or political will Alex. Australian Tax Law does have reasonably strong provisions to deal with transfer pricing and thin capitalisation but enforcing them comes down to being willing to chuck money at a speculative legal action.

[xelasnave]

Originally Posted by rrussell1962

Probably comes down to a lack of resources and / or political will Alex. Australian Tax Law does have reasonably strong provisions to deal with transfer pricing and thin capitalisation but enforcing them comes down to being willing to chuck money at a speculative legal action.

I have not read the act for years but I recall a section which basically would enable the tax office to get what they want if there is even a hint of evasion and with all these tax bandits evasion is what they are doing.

It comes down to will no doubt and it seems there is no one ready to engage this issue. Says something I suspect.

Anyways its a great world and even with all the nonsence we all seem to be doing ok.

Sorry for derailing this thread.

Storage of electricity is the only problem I see and that could be fixed by sending water up someplace and harvesting the energy of it falling...

alex

[rrussell1962]

Originally Posted by xelasnave

I have not read the act for years but I recall a section which basically would enable the tax office to get what they want if there is even a hint of evasion and with all these tax bandits evasion is what they are doing.

It comes down to will no doubt and it seems there is no one ready to engage this issue. Says something I suspect.

Anyways its a great world and even with all the nonsence we all seem to be doing ok.

Sorry for derailing this thread.

Storage of electricity is the only problem I see and that could be fixed by sending water up someplace and harvesting the energy of it falling...

alex

Yep, that's Part IVA that essentially say's if the dominant purpose of a transaction is to avoid tax then the ATO can treat it as voidable. There are other more specific provisions on thin capitalisation and transfer pricing. I used to deal with a lot of that stuff, in another life, long ago....

[xelasnave]

Originally Posted by rrussell1962

Yep, that's Part IVA that essentially say's if the dominant purpose of a transaction is to avoid tax then the ATO can treat it as voidable. There are other more specific provisions on thin capitalisation and transfer pricing. I used to deal with a lot of that stuff, in another life, long ago....

Clearly things have gone downhill so you need to get back and help sort it out.

I think the lack of will comes from a belief that if we dont let folk get away with this sort of thing they will go elsewhere to a country that wont worry what they do.

And that is probably a fair view.

AND really with a market economy you really need a place where money simply disappears...all these folk hording billions probably do the rest of the economy good...I think we need very poor and very rich for the whole thing to work.

I read that on some planets the magntic field is such that you could place a pile of copper wire on the ground and generate plenty of electricity...Could that be so? If so why cant we get a big coil of wire to solve our problems of generation of energy.



alex

[rrussell1962]

Originally Posted by xelasnave

Clearly things have gone downhill so you need to get back and help sort it out.

About as much chance as you getting back into the real estate game to add some integrity! I'm out and staying out.