ODD NEWS: Hedge Fund Fight Night (Hong Kong)

By
taxabull
Published: October 29, 2009Tags: , , , ,
Fight Night..!

Fight Night..!

 

We thought that this was a very weird and compelling look into the expatriate community in Hong Kong…!

This story appeared in Bloomberg about a growing trend amongst the hedge fund community in Hong Kong to learn martial arts. The bankers / fund managers are drawing parallels between fighting in the markets and fighting in the ring.

This culminates into a yearly event called the “Hedge Fund Fight Night” where a motley crew of inexperienced finance professionals fight for glory and charity..! The fight night raises money for Operation Smile & Operation Breakthrough.  Read more...

Photos published to FLICKR!

By
taxabull
Published: October 29, 2009Tags:

Hi all,

You can view all our CPA Congress photos on Flickr. Take a look here. There’s are 23 photos – all highlights over the 3 days! We’ll be uploading some more shortly.

flickr

Cheers,

Taxabull team

Tax Fight: Round 2…! The Prize? $242m..!

By
taxabull
Published: October 27, 2009Tags: , , , , , , ,

We previously reported on Twitter than the ATO issued an amended assessment for $242 MILLION DOLLARS to an unknown high net worth individual.

Whilst it was a suspicious offshore transaction that drew the ATO’s attention to this individual, it did not form part of Project Wickenby. This is despite the money trail flowing thru an offshore tax haven.

Instead, it falls under the jurisdiction of the taskforce investigating “high networth individuals”. That is, individuals whose net wealth is over $30 million.

We can’t help but notice the competition within the ATO to get the high-profile cases. Fair enough since the budgets of government programs live and die by their results.  Read more...

Income Tax Returns due on Saturday, 31 October 2009!

By
taxabull
Published: October 27, 2009Tags: , , , ,

This is a reminder to all our readers that your individual income tax returns are due this Saturday, 31 October 2009.

If you use a registered tax agent, you may have be entitled to a longer lodgement deadline. Speak to your accountant for more information.

But, for the rest of us….

Paper Lodgement

If you are using the paper version of the “Tax Pack”, we recommend that you send it on Thursday to ensure that it gets to the ATO in time. Alternatively, you can drop it off in any ATO office lodgement box.  Read more...

When Tax meets Underbelly? Russian-style…

By
taxabull
Published: October 26, 2009Tags: , , , ,

We stumbled upon this rather fascinating and scary story in The Australian on 20 October 2009 titled, “Moscow tax office fraud nets $414m”.

It was a tale of two cities…… err… I mean, two parties.

On one hand, you have the Moscow Tax Authority (”MTA”) and on the other, you have the Russian Mafia.

In most jurisdictions around the world, the Tax Authorities are an essential part of the war against organised crime. When there is not sufficient evidence to convict criminals based on their illicit activities, they may be caught out by infringements of tax law.  Read more...

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