No silver lining in ATO’s golden fiasco, just a trail of destruction theaustralian.com.au/business/econo…
‘Arguably it is Australia’s largest unpunished crime. But instead of chasing the fraudsters the ATO almost wiped out a thriving, largely innocent, privately owned gold refining industry and spent $40m in legal fees chasing an insolvent gold refiner as a cover-up.’ ~ Gottliebsen
‘the “gold case” decision against the ATO in the Federal Court case was a huge victory for tax collection fairness in the nation, almost certainly the states will require return of the $1bn-plus of their revenue that was lost through ATO incompetence;’
...’the broken refiners may seek large sums in damages and many skilled workers in the industry will also have a case for damages.’
‘It was a vital win for the nation because the methods used to destroy gold refining were very similar to that used to decimate Australian research years earlier.’
‘Tax commissioner Chris Jordan may not have understood the true situation but now has the confidential full Federal Court judgment.’ ~ Gottliebsen
‘There will be calls for a royal commission into the affair but that will delay the urgent task of fixing the broken tax collection and enforcement system. Rather I suggest the government simply ask the Federal Police to examine the ATO files, which surely will show the truth.’
‘In parliament the ATO justified its actions on the basis that there was criminal behaviour in the refining industry. But in the Administrative Appeals Tribunal case the ATO declared there was no criminal behaviour by the refiners involved in the case.’ ~ Gottliebsen #ICAC
‘Treasurer Frydenberg & Ass Min to PM Morton + Small Bus Min Cash understand the need for fundamental tax collection & enforcement systems change. But they are being lobbied from the ATO & Treasury. One would hope that the “gold case” finally ends the validity of that lobbying.’
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