Tax raids target big end of town
http://www.news.com.au/story/0,10117,15571636-2,00.html
By Holly Nott
June 10, 2005
The series of raids were part of the largest multi-agency investigation of
its kind in Australia, authorities said.
Federal Justice and Customs Minister Chris Ellison said the Australian Crime
Commission (ACC), the Australian Taxation Office (ATO) and the Australian
Federal Police (AFP) had uncovered a major organised effort to defraud the
commonwealth of tax revenue.
Bodies involved in Operation Wickenby had raided 48 properties in New South
Wales, Western Australia, Queensland and Victoria During the past two days,
while the ATO had taken action to access documents in a further 37
locations, Senator Ellison said.
Operations had also been carried out in four other countries that could not
be identified because of ongoing investigations, he said.
No arrests had been made but 12 unnamed people of interest had been
identified, Senator Ellison said.
[Ed. No arrests? What the.....?]
"It is alleged that there has been a massive avoidance of tax ... and that
these search warrants are essential to gaining further evidence and there
are 12 people in particular who are of interest," he said.
"It is alleged they are high-wealth individuals and this is the big end of
town that we've targeted here.
"And, of course, it sends a very clear message that all people in Australia
are subject to paying tax."
The ACC said the investigation covered the promoters of, and participants
allegedly involved in, an organised tax fraud and money laundering operation
using offshore financial schemes.
In some cases, deductions were claimed for payments for expenses and
services that were fictitious, while in other cases assessable income
derived offshore was not brought to account in Australia.
"This income is secretly returned to Australia disguised as a loan, an
inheritance, a gift, or through credit and debit cards," the ATO said in a
statement.
Tax Commissioner Michael Carmody urged anyone involved in the schemes to
come forward voluntarily, as penalty discounts would be considered.
"The law provides significant penalty discounts where taxpayers make a full
and true voluntary disclosure," he said.
[Ed. Otherwise known as a 'get out of jail free' card, purposely built into the
legislation to stop the big-wigs doing porridge...took me by surprise I must
say........]
Senator Ellison said it was not unusual to have search warrants executed
before arrests were made in alleged instances of white collar crime.
"The sorts of offences we would be looking at could entail jail penalties of
10 to 20 years," he said.
[Ed. Hehe, this guy cracks me up...]
Operation Wickenby began in October last year with 285 personnel.
--
Jim
http://groups.yahoo.com/group/Western_Nationalist/
Union Against Multi-Culty
"Abolish Multi-Culty and String Up The Traitors!"
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214773. Tax raids target big end of town
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