Nathan Lee » negative gearing http://nathan-lee.com/blog Nathan musing, ranting and raving about the world. Thu, 01 Mar 2012 23:57:30 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Reporting mass tax evasion: Negative Gearing http://nathan-lee.com/blog/2010/04/14/reporting-mass-tax-evasion-negative-gearing/ http://nathan-lee.com/blog/2010/04/14/reporting-mass-tax-evasion-negative-gearing/#comments Wed, 14 Apr 2010 05:17:46 +0000 Nathan http://nathan-lee.com/blog/?p=1314 Lodged a report with the ATO about a well known widespread scam for avoiding paying income tax in Australia. There is a unique part of Australian tax law which states that it is illegal to enter into a business arrangement for the sole purpose of reducing tax.

Not about a particular person, I'd be here all year filling these out!

Not about a particular person, I'd be here all year filling these out!

Pretty big industry this tax evasion thing.

Pretty big industry this tax evasion thing.

Let's be clear: negative gearing robs taxpayers and feeds bank profits.

Let's be clear: negative gearing robs taxpayers and feeds bank profits.

Have my doubts it'll be fixed.. But..

Have my doubts it'll be fixed.. But..

Wonder whether they'll actually look into it?

Wonder whether they'll actually look into it?

Hope it gets a chuckle from someone at the ATO..  :)

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