Fulfil the dream stripped of registration

Big shot builder loses registration amid investor uproar

 

Take a punt on other peoples money. If it pays off you will become rich if it doesn't you simply become bankrupt or wind up and do something else.

 

There's a fe companies involved in this.
FTD Construction is the one being actioned againts in this case.

Building Services Board refuses registration renewal – FTD Construction Pty Ltd

 

Was it only his dream being fulfilled?

 

I see a Lambo and think drugs, guns and ******** developers who will scam someone
Its the car of criminals. ATO always sieze them
For some its a flashing light for enforcement agencies to say - Lets look at this guy. Public servants love to take down scammer and rip off merchants over some poor family builder who had a bad financial outcome because costs ballooned.

Jean Nassif - Perfect example. Accussed of everything bar a war crime. And his daughter. His ëx wife" just returned and - doesnt know anything.
Jean Nassif's estranged wife Nissy flaunts luxury holiday after Toplace collapse | Daily Mail Online

 

$50 says it was a rental

 

Same with the chick

 

Link

 

Business....LOL. Lemme guess in Bali ?? At present its full of men aged 20-40 from Russia taking a sabatical to avoid being put into a uniform.
Bali has become the grease trap of the world with its nomad visa.

 

I don’t think emotions are a factor in selecting a company to audit.

eg

Coy A flamboyant DH with no money/assets. A 50 hour audit will result in no prosecution or back taxes.. Or

Coy B hardworking battler with money and assets but due to lack of knowledge/ bad advice has understated his income and will owe say $5 mill in back taxes after a 50 hour audit.

I bet in the normal course of business, Coy B will be targeted for an audit. That’s where the money is.

It’s all about the money. See on news ato is reserecting, old debts, some more than 10 years old. Another robodebt style approach. The interest component of the debt is more than the principle amount lol. Let’s see how Albonese handles it.

 

Non-recovery of a debt (write-off) | Department of Finance

Waiver of Debt | Department of Finance

 

ATO are going after property investors. Mums and Dads. The sample tests showed many get loans wrong (blended, refinances and more) and make a lot of mistakes. Interest, repairs and other issues. The ATO uses a rule of thumb.. They dont spend a lot of time initially. When they find something then they spend time on it. They are paid to.

Its like random breath testing = 2 in 100 drivers are caught. In past campaigns if they found explanations they scale it back. This time they arent. They have ADDITIONAL audit funding of $300m a year for 2 years. Thats a lot of audits. I believe the target collection is a exra $900m a year. Planned ROI is 3 to 1.

ATO also have teams for larger business where they target MIN $5m and up. They see behaviours and look for these. Sometimes it rampant in an industry and other times people think they are clever but...they arent.

 

The ATO also have a process to seek waiver of a tax debt. I have seen it work well once or twice. Its not easy. You basically show hardship and no capacity to repay AND no assets. They check it. One was a retiree who lost a lot on bad investments at same time as old tax schemes were settled. The old thing about you cant get blood from a stone. The ATO wont purue bankruptcy when it wont realise anything. ATO were pretty good with him. Wrote off $90K.