Tim Dyce – Faith and Governance
Gold traders ripped off $1bn in GST scam
The Australian
Revenue lost through a gigantic rort of the GST system by gold traders has soared to as much as $1 billion, a Senate committee has been told
Revenue lost through a gigantic rort of the GST system by gold traders has soared to as much as $1 billion, a Senate committee has been told
Two people have also been charged over the scam and are due to appear in court in Sydney on March 13, Australian Taxation Office deputy commissioner Timothy Dyce told a Senate estimates committee yesterday. The rip-off, which dates back to 2012, involved exploiting the fact that GST is charged on so-called “scrap ...
Underworld elements including bikie gangs and organised crime groups reportedly drove the scam, which appears to have helped inflate turnover in the Australian scrap gold market from just $150 million in 2011 to $1.8bn in 2016. Mr Dyce said a previous estimate of about $700m in lost GST was too low.
Questioned by Nationals senator John Williams, Mr Dyce said the ATO's investigation of the gold scam, Operation Nosean, was still active. Underworld elements including bikie gangs and organised crime groups reportedly drove the scam, which appears to have helped inflate turnover in the Australian scrap gold market ... Fightback against gold GST rort after $700m lost
Senate Estimates 28 Feb 2018 Economics and Taxation
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Underworld elements including bikie gangs and organised crime groups reportedly drove the scam, which appears to have helped inflate turnover in the Australian scrap gold market from just $150 million in 2011 to $1.8bn in 2016. Mr Dyce said a previous estimate of about $700m in lost GST was too low.
Questioned by Nationals senator John Williams, Mr Dyce said the ATO's investigation of the gold scam, Operation Nosean, was still active. Underworld elements including bikie gangs and organised crime groups reportedly drove the scam, which appears to have helped inflate turnover in the Australian scrap gold market ... Fightback against gold GST rort after $700m lost
Senate Estimates 28 Feb 2018 Economics and Taxation
Parliamentary Business Hansard Estimates Transcripts
Democracy Dies in Darkness - Senate Estimates
SMSF members avoiding tax face crack down - Mentor Education
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INTHEBLACK
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