I just heard on the morning news that the Administrative Appeals Tribunal of the Australian Taxation Dept let a drug dealer in Western Australia declare $220000, that was stolen in Drug deal gone wrong, a business loss, & as such an official deduction on the taxes he has to pay on his earning estimates.
This all goes back to official Australian Taxation policy, where a tax payer can declare illegaly earned money to the taxation dept & the tax department signs a confidentuallity agreement so the police arn't told. The theory being that criminals don't have to worry about the Taxation dept investigating their lavish lifestyle, & the govt can at least get tax money off these people, in return.
This all goes back to official Australian Taxation policy, where a tax payer can declare illegaly earned money to the taxation dept & the tax department signs a confidentuallity agreement so the police arn't told. The theory being that criminals don't have to worry about the Taxation dept investigating their lavish lifestyle, & the govt can at least get tax money off these people, in return.
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