It is extraordinary that the profit from Barnaby Joyce’s record payment for Australian water rights, an $80 million payment of taxpayers’ money, found its way to a company in the Cayman Islands which had been set up by Angus Taylor, a company at which Taylor had been a director for six yearsRead More
Quod ego dico, non quod ego faciam. That should be KPMG’s motto. Do what I say, not what I do. It has a ring to it, but more importantly, it goes to the heart of the firm’s business model: quae abscondam – hide stuff.Read More
Apr 9, 2019 | Markets
Investors were furious to find their high-tech battery lab in Thailand was stocked, not with high-tech batteries, but with old ice cream machines. Surely the corporate regulators would fire up now at this, yet another deceptionRead More
It seems nobody has picked up the “fake cash splash” angle on Tuesday’s Budget, that is, Treasurer Josh Frydenberg’s trick of including last year’s tax relief to fatten this year’s numbers.Read More
“Back in Black”! Fawningly, the Australian newspaper cut and pasted the Liberal Party press release. The Fin Review ran its predictable “Cash Splash” narrative. Nine Network’s Sydney Morning Herald splashed “$20 billion tax cutsRead More
Apr 2, 2019 | The Kitchen Table
John: Shares are riskier than Australian bank interest, right? Peter: Correct. John: It looks to me that the riskier investment gets the government support.Read More
Apr 1, 2019 | Energy
The price of a solar module has crashed 90 per cent since 2010. That was the year when Adani bought into its Galilee Basin coal project but it is now demanding compensation from Australian taxpayersRead More
A columnist for The Australian newspaper wrote a nasty article this week denigrating New Zealand prime minister Jacinda Ardern after many days of global media praise.Read More
Mar 29, 2019 | Despatch
The Government has been working its small business base hard. As they say; “small business votes”, and the changes are already in force, keeping them out of the Budget limelight.Read More
The Big Four, the relentless architects of global tax avoidance, have returned to the insolvency business, despite selling out of it 15 years ago because of overweening conflicts of interests.Read More
Mar 24, 2019 | Business
“Thanks for your enquiry. Australian Unity declines to comment to (sic) your enquiry or respond to the report you refer to (sic)”.Read More
Julian Burnside has locked horns with Treasurer Josh Frydenberg over Liberal Party donations and the Treasurer approving the sale of 43 Australian hospitals, subsidised by taxpayers, to a company in the Cayman Islands tax haven.Read More
John: So, where do franking credits come from?
Peter: The ATO, that’s where franking credits are born … think about franking credits like a gift voucher.
Mar 18, 2019 | Government
The explosion in government spending which suddenly ramped up last May will leave the incoming government buried in debt but worse, it will leave whoever wins the impending federal election tied to billions of dollars in spending commitments which never went to tender.Read More
Mar 15, 2019 | Markets
“Blooms of mould and lead paint … infestations of snakes and cockroaches and dangerously faulty window screens”.
Lendlease has come under fire in the US
Mar 15, 2019 | Tax
Virgin Australia founder Sir Richard Branson actually resides in a tax haven. He even has his own island, Necker Island, in the infamous archipelago of tax secrecy, the British Virgin Islands.Read More
The Kitchen Table: Penny the pensioner pays the kids’ private school fees with her franking credits pension
Brenda: So the government would give me $6,478 if I stopped working and owned shares instead.
Peter: Seeing that the dole is $14,305, you’d nearly be getting half the dole, Mum.
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