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CP
Safety Car Pilot



Australia
11159 Posts
joined 22 Jan 09

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Posted - 27 Jun 2014 :  13:39:40  Show Profile  Visit CP's Homepage Send CP a Private Message  Reply with Quote Copy this URL to Link to this Reply
Speaking of mining, Glencore Xstrata who own most of the mines near my neck of the woods, are pretty much mining for free.

Swiss-based Glencore - Australia’s largest coal miner - has paid almost no tax over the last three years on income of at least $15 billion, Fairfax media has reported.

Fairfax Media conducted an independent analysis of the company’s accounts and found that Glencore claimed tax breaks in Australia after borrowing money from associates overseas.

The report, published in the Sydney Morning Herald, says Glencore borrowed from “associates overseas” at inflated rates of 9 per cent on $3.4 billion in loans – a rate “double what the company would have had to pay had it simply borrowed the money from the bank.”

Glencore is headed by Swiss-based Ivan Glasenberg, who ranks No.5 on the 2014 BRW’s rich list released yesterday. His wealth lifted by $1.01 billion thanks in part due to Glencore’s rising share price.

Ivan Glasenberg
Ivan Glasenberg


The company is also one of the beneficiaries of $17.6 billion government subsidies and assistance for the mining industry.

The SMH analysis also suggests that Glencore may be profit-shifting from Australia to other jurisdictions after.

“The study also found a hefty increase in Glencore’s coal sales to related companies (up from 27 per cent to 46 per cent of total sales, with no explanation), indicative of transfer pricing – also known as profit-shifting – and an activity that appears to breach Section IVA of the Income Tax Assessment Act,” says the report.

https://au.finance.yahoo.com/news/glencore-paid-no-tax-on--15-billion-income--report-002023790.html

I wonder if we'll see that little loophole tightened up?
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AlbertM
Crackpot



12530 Posts
joined 15 Jan 03

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Posted - 27 Jun 2014 :  17:46:02  Show Profile  Visit AlbertM's Homepage Send AlbertM a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by bundy5

I reckon "school chaplains" should, where appropriate, guide a student to a particular faith or religion rather than being neutral and focusing purely on informing them about spiritualism. I mean at least with religion there is certainty in terms of support and a place to gather. The risk with spiritualism OTOH is that we will possibly end up with a student who is not sure who they are, what they believe in and what they want to become and have the potential to completely lose all social grasp once they leave school and the support of school chaplaincy program.

Bull****!


Ford fans be proud. History of Australian motor racing shows Ford has been and will always be superior. They have to slow them down when they get serious about racing. The Phase 4 scared the **** out of people, they banned it. Sierra gets called on a technicality, Falcon EF "...had its wings clipped to make Holden part of the show", AU not allowed to show it's potential, Falcon BF gets clipped. Mustang Is so good Supercars made up a rule and gets a bag of cement in the roof, and it still wins.
_Mford
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bundy5
BANNED



2755 Posts
joined 24 Feb 13

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Posted - 27 Jun 2014 :  23:58:22  Show Profile Send bundy5 a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by 27GV

http://mobile.abc.net.au/news/2014-06-27/federal-government-rejects-call-for-royal-commission-into-asic-/5554394

Abbott rejects Royal Commission into Commonwealth Bank corruption. But he had plenty of support for the biased waste of money that was the inquiry into union corruption. Funny that the group who donated to Labour are the only ones who receive a royal commission

This failed government obviously doesn't care about the welfare of the regular Aussie taxpayer. Hundreds of mum and dad investors ripped off by corrupt bankers committing fraud and Abbott refuses to investigate. I wonder how many elderly Aussies lost their homes to the bank fraud? Guess Abbott doesn't care, so no one will ever know.



I thought Australian Securities and Investment Commission regulates the banks? Who regulates the unions?

To respond to Bruce in the NRL thread: it is probably the single hardest loss I have had to deal with at Souths to lose Bully. Much worse than Sam Burgess as he didn't symbolise Souths as Bully did. I think a lot will underestimate just how much a loss he will be to Souths but I fully understand how engrossed he is with NZ and I think given that he will make the successful transition that others haven't.
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Trickyonne
Sex God



Vatican City
17527 Posts
joined 13 Apr 03

 offline

Posted - 28 Jun 2014 :  01:05:41  Show Profile Send Trickyonne a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by bundy5

quote:
Originally posted by 27GV

http://mobile.abc.net.au/news/2014-06-27/federal-government-rejects-call-for-royal-commission-into-asic-/5554394

Abbott rejects Royal Commission into Commonwealth Bank corruption. But he had plenty of support for the biased waste of money that was the inquiry into union corruption. Funny that the group who donated to Labour are the only ones who receive a royal commission

This failed government obviously doesn't care about the welfare of the regular Aussie taxpayer. Hundreds of mum and dad investors ripped off by corrupt bankers committing fraud and Abbott refuses to investigate. I wonder how many elderly Aussies lost their homes to the bank fraud? Guess Abbott doesn't care, so no one will ever know.



I thought Australian Securities and Investment Commission regulates the banks? Who regulates the unions?



the anti corruption squad is having a fair crack those filthy crooks

Ford 2018 champions
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Darren351
Team Manager



Australia
5113 Posts
joined 12 Jul 04

 offline

Posted - 28 Jun 2014 :  02:10:51  Show Profile Send Darren351 a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Trickyonne

quote:
Originally posted by bundy5

quote:
Originally posted by 27GV

http://mobile.abc.net.au/news/2014-06-27/federal-government-rejects-call-for-royal-commission-into-asic-/5554394

Abbott rejects Royal Commission into Commonwealth Bank corruption. But he had plenty of support for the biased waste of money that was the inquiry into union corruption. Funny that the group who donated to Labour are the only ones who receive a royal commission

This failed government obviously doesn't care about the welfare of the regular Aussie taxpayer. Hundreds of mum and dad investors ripped off by corrupt bankers committing fraud and Abbott refuses to investigate. I wonder how many elderly Aussies lost their homes to the bank fraud? Guess Abbott doesn't care, so no one will ever know.



I thought Australian Securities and Investment Commission regulates the banks? Who regulates the unions?



the anti corruption squad is having a fair crack those filthy crooks

Maybe true but the anti corruption squad are as effective as a midget trying to beat a horse to death with a feather. Only it takes longer for the corruption squad.....
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bundy5
BANNED



2755 Posts
joined 24 Feb 13

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Posted - 28 Jun 2014 :  07:46:51  Show Profile Send bundy5 a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Trickyonne

quote:
Originally posted by bundy5

quote:
Originally posted by 27GV

http://mobile.abc.net.au/news/2014-06-27/federal-government-rejects-call-for-royal-commission-into-asic-/5554394

Abbott rejects Royal Commission into Commonwealth Bank corruption. But he had plenty of support for the biased waste of money that was the inquiry into union corruption. Funny that the group who donated to Labour are the only ones who receive a royal commission

This failed government obviously doesn't care about the welfare of the regular Aussie taxpayer. Hundreds of mum and dad investors ripped off by corrupt bankers committing fraud and Abbott refuses to investigate. I wonder how many elderly Aussies lost their homes to the bank fraud? Guess Abbott doesn't care, so no one will ever know.



I thought Australian Securities and Investment Commission regulates the banks? Who regulates the unions?



the anti corruption squad is having a fair crack those filthy crooks



They don't regulate as in look through the unions' books periodically, they instead investigate when allegations are made about corruption and misappropriating members' funds for instance. In a sense they are toothless because unless you have an aggrieved union worker like Jackson for example hardly any allegations are going to be made.

To respond to Bruce in the NRL thread: it is probably the single hardest loss I have had to deal with at Souths to lose Bully. Much worse than Sam Burgess as he didn't symbolise Souths as Bully did. I think a lot will underestimate just how much a loss he will be to Souths but I fully understand how engrossed he is with NZ and I think given that he will make the successful transition that others haven't.
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27GV
Team Manager



5249 Posts
joined 20 Jul 08

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Posted - 28 Jun 2014 :  13:37:10  Show Profile Send 27GV a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by REM

quote:
Originally posted by Darren351

quote:
Originally posted by AlbertM

And what Faith do we allow in schools?


Atheism??



What the religion with the least evidence?



And the least number of protected pedophile clergy...

As for Glencore, Abbott wants regular Aussies to pay the tax that Glencore should. How many sick people were denied treatment because Glencore didn't pay their fair share? How many elderly will be on the street paying the tax burden Glencore didn't?


_Mford

Edited by - 27GV on 28 Jun 2014 13:45:25
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Trickyonne
Sex God



Vatican City
17527 Posts
joined 13 Apr 03

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Posted - 28 Jun 2014 :  14:41:34  Show Profile Send Trickyonne a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by 27GV

quote:
Originally posted by REM

quote:
Originally posted by Darren351

quote:
Originally posted by AlbertM

And what Faith do we allow in schools?


Atheism??



What the religion with the least evidence?



And the least number of protected pedophile clergy...

As for Glencore, Abbott wants regular Aussies to pay the tax that Glencore should. How many sick people were denied treatment because Glencore didn't pay their fair share? How many elderly will be on the street paying the tax burden Glencore didn't?



oh so school chaplains are pedophiles now ?

fair dinkium

Ford 2018 champions
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Trev
Team Manager



Australia
5741 Posts
joined 13 Feb 03

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Posted - 28 Jun 2014 :  17:14:04  Show Profile  Visit Trev's Homepage Send Trev a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Trickyonne


oh so school chaplains are pedophiles now ?

fair dinkium

not sure yet, the Royal Commission hasn't handed down their findings

I reserve the right to arm bears
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Trickyonne
Sex God



Vatican City
17527 Posts
joined 13 Apr 03

 offline

Posted - 28 Jun 2014 :  17:40:34  Show Profile Send Trickyonne a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by Trev

quote:
Originally posted by Trickyonne


oh so school chaplains are pedophiles now ?

fair dinkium

not sure yet, the Royal Commission hasn't handed down their findings



hmmm so you must be one too trev....Ive heard of teachers getting caught with child porn...so going on your logic YOUR one too !

Ford 2018 champions
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STP01
Team Manager



1521 Posts
joined 15 Mar 07

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Posted - 28 Jun 2014 :  18:57:49  Show Profile Send STP01 a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by 27GV
How many sick people were denied treatment because Glencore didn't pay their fair share? How many elderly will be on the street paying the tax burden Glencore didn't?


Maybe you should ask Rudd, Gillard and Swan, since Glencore's lack of tax payments over the last few years would have been under Labor's tax laws.....


Congratulations Jamie Whincup on 7 Championships!
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Trickyonne
Sex God



Vatican City
17527 Posts
joined 13 Apr 03

 offline

Posted - 28 Jun 2014 :  19:02:47  Show Profile Send Trickyonne a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by STP01

quote:
Originally posted by 27GV
How many sick people were denied treatment because Glencore didn't pay their fair share? How many elderly will be on the street paying the tax burden Glencore didn't?


Maybe you should ask Rudd, Gillard and Swan, since Glencore's lack of tax payments over the last few years would have been under Labor's tax laws.....





yep

Ford 2018 champions
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27GV
Team Manager



5249 Posts
joined 20 Jul 08

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Posted - 28 Jun 2014 :  22:29:02  Show Profile Send 27GV a Private Message  Reply with Quote Copy this URL to Link to this Reply
http://www.sbs.com.au/news/article/2014/06/28/farce-denying-drifting-boat-labor

Looks like the boats really got stopped. Not. Ooops.

I think the book of failures by this government would need so much paper it would wipe out a small Tassie forest...


_Mford
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bundy5
BANNED



2755 Posts
joined 24 Feb 13

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Posted - 28 Jun 2014 :  23:02:55  Show Profile Send bundy5 a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by 27GV

http://www.sbs.com.au/news/article/2014/06/28/farce-denying-drifting-boat-labor

Looks like the boats really got stopped. Not. Ooops.

I think the book of failures by this government would need so much paper it would wipe out a small Tassie forest...



Really you want to make something out of this when there were thousands of asylum seekers coming illegally by boat under labor government while under Abbott he has reduced it to a trickle??

To respond to Bruce in the NRL thread: it is probably the single hardest loss I have had to deal with at Souths to lose Bully. Much worse than Sam Burgess as he didn't symbolise Souths as Bully did. I think a lot will underestimate just how much a loss he will be to Souths but I fully understand how engrossed he is with NZ and I think given that he will make the successful transition that others haven't.
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27GV
Team Manager



5249 Posts
joined 20 Jul 08

 offline

Posted - 28 Jun 2014 :  23:10:25  Show Profile Send 27GV a Private Message  Reply with Quote Copy this URL to Link to this Reply
quote:
Originally posted by bundy5

quote:
Originally posted by 27GV

http://www.sbs.com.au/news/article/2014/06/28/farce-denying-drifting-boat-labor

Looks like the boats really got stopped. Not. Ooops.

I think the book of failures by this government would need so much paper it would wipe out a small Tassie forest...



Really you want to make something out of this when there were thousands of asylum seekers coming illegally by boat under labor government while under Abbott he has reduced it to a trickle??



170 asylum seekers is a damn big trickle.

What was the slogan again? STOP THE BOATS? Looks like he hasn't done too well at that.


_Mford
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