Category: Matt Corman

Global milestone as 136 countries agree to abolish tax havens

Matthias Corman doing what he always did in Australia “cutting company taxes” while seeming to raise them then sitting down to share a large  Havanna after the sting. Just full of self-praise a reward for doing nothing yet again. Can some 60 countries now legitimately declare themselves to be Tax Havens because they didn’t sign up tp Corman’s plan?

Out of the 140 countries involved, 136 supported the deal, with Kenya, Nigeria, Pakistan and Sri Lanka abstaining for now.

Source: Global milestone as 136 countries agree to abolish tax havens

Mathias in “Cormann The Unawarian”! – » The Australian Independent Media Network

it’s Mathias Cormann I want to talk about. He is, after all, our Finance Minister and what I’m reading today makes me very worried that he holds that role. According to reports, Mathias went on a holiday which he didn’t pay for until the media asked him why he didn’t pay for it.

via Mathias in “Cormann The Unawarian”! – » The Australian Independent Media Network

Australia a paradise for corporate crooks says regulator. Corman denies Medcraft said it then reverts to polly speak.

ASIC chairman Greg Medcraft

“He indicated to me that his point was that Australia needed to remain vigilant to ensure Australia does not become a paradise for white collar criminals.”

ASIC Chairman  Greg Medcraft said:

The Australian Securities and Investments Commission chairman, Greg Medcraft, told journalists at a Walkley Foundation function that “Australia is a paradise for white collar crime.”

“Often [in] Australia it’s actually worthwhile breaking the law to do the trade. You can’t have that.”

penalties for corporate crimes are too weak compared to other countries such as the United States.

“You’ve got to lift the fear to suppress greed in the white collar area.”

He said that in the US corporate tax cheats go to jail, but that does not happen in Australia.

Despite financial planning scandals at the Commonwealth Bank and Macquarie Group, Mr Medcraft said the corporate regulator had just 25 officers to regulate 30,000 financial planners.

Finance Minister Mathias Cormann said

ASIC needed to competently enforce the current laws and the Government would toughen penalties for white collar criminals if there was persuasive evidence of a problem.

“I asked Greg Medcraft whether he believed Australia was a paradise for white collar criminals and his direct response to me was a clear and unambiguous ‘no’,”

“He indicated to me that his point was that Australia needed to remain vigilant to ensure Australia does not become a paradise for white collar criminals.”


So this is what it takes a war to raise taxes. If the opposition refuse they will be accused that they aren’t supporting war or national security

Finance minister Mathias Cormann speaks during a press conference. “If your against me your against Team Australia, Shorten”

Mathias Cormann ‘not ruling out’ increasing taxes to fund national security boost, Iraq campaign

Finance Minister Mathias Cormann says he will not rule out raising taxes to help pay for Australia’s mission in Iraq and a recent funding boost to national security agencies.


30% of our largest companies pay less than.10c in the dollar corporate tax. We have a revenue problem not a spending problem

Global crackdown on tax havens fails to sway Australian companies

There would be no deficit Mr Hockey. If you collected what Mr Murdoch and others have been allowed to forego: Murdoch alone $1.5billion.

How is it that I paid 35% income tax and 30% company tax throughout my working life and the largest companies pay less than 10% and you call them lifters.?????





Don’t Stop Believing They Are Out There They Exist. We have no specific intel yet but they are there They Just Take a Bit of Finding. They Age Money

Sounds like Abbott’s  home grown terrorists are easier to spot than good financial planners. When we had sold our business and were in transition to retirement our CBA business manager turned up with a lady who was a CBA financial planner. She assured us she had our best interests at heart and would turn a profit with our newly liquidated assets. We asked for her qualifications and she said she was an  agricultural scientist. I nodded  and said that was good as it indicated she could do math and at least use a computer. Obviously my next question was why she thought she had our best interests at heart and could manage our money better than us.

” Because I love making a profit and love making my clients happy”

That was the best she could do.My response was that we  could trump her on all counts as it had taken us 30 years of hard work to make the savings  30 years of continuous profit and that we were eager not to make a loss. Hadn’t she noticed we were too old for  risky ventures and that our happiness was of far more value to us than her. We never really moved on from that point. Given the recent revelations of the CBA and it’s financial planners now  I’m now quite relieved we didn’t take up her offer to be serviced.

FPA has lifted it’s professional standards we are told by Corman. The Finance Minister is telling us to forget the past and move on. Sounds awfully what a ponzi schemer would say and if bold enough would ask to start again. Why weren’t standards lifted 30 years ago the goals  of financial planning have remained the same haven’t they. It’s as if the fox owns the hen house and is making lots of promises after being caught out with the umpire on side.

The coalition wants savings built on labour to be given back to Capital to manage we aren’t even invited to the board. Capital already made profit on those savings once if they lose tough luck. Capital just moves on with an oops and Corman saying that’s life. There are no manslaughter charges handed down on the suicides that have resulted in the past

Just launched is the ‘Most Trusted Register’. Planners who clients say are giving them exceptional service and performance. Planners pay nothing to be listed it’s not funded by any body or financial services firm or any association. there is also a free apple app. It all sound like betting to me. The Abbott government just wants it made easier for capital to get at our money. It still all seems like betting to me it’s about risk management. It would be far better to offer self management courses to seniors before being told to swim in a pool with a history of sharks that have in fact caused far more deaths than the real



People under 25 will have to wait 6 months for unemployment benefits. Who will support them in the interim their family or friends if they have any. It’s NOT A TAX
I know an ill person who needs weekly blood tests and  needs to see a doctor each week. That’s an extra $700 per year. It’s NOT A TAX.
He is under 35 so Abbott wants him off his PDS and on New Start a reduction of $120 a week. That’s a 30% reduction. Ofcourse if he has a family they’ll pay. To make things worse Keven Andrews is suggestig policing spending. It’s NOT A TAX.
Driving people off welfare is not SHARING THE BURDEN it’s making sure the  a lot of families can’t save anything. They are literaly running on empty , live on credit & pay 20% interest in doing so. This is what Abbott & Hockey call basket case economics it has to be fixed an this is the way to fix the books. He is handballing the problem and riding on the backs of ordinary families to do it. 

The wealthy get 55 days interest free on their credit cards and can minimize their costs while ordinary families play ring around my credit cards & not by choice. After all the cards are easy enough to get even the family dog is sent one by the banks. The wealthy & businesses owe billions of dollars in unpaid taxes and super which the government writes off or discounts in order to get something. No discounts for working families I’m afraid only government negotiated unemployment and the pain of sharing this burden. Holden a case in point.
Abbott Hockey and their ilk run around in lycra and smoke cigars. Welfare is a foriegn country to their families. One they never have to visit or even consider. Surely if gov revenue has fallen and the disjunct between ordinary & wealthy has grown a tax on spending and vigilance on tax avoidance by individuals and business would have been fairer. Glencore the biggest coal miner made $15bill profit on which the paid no tax. We subsidised their fuel costs recieved nothing in return. They could have done nothing and made a profit.

The coalition agenda to deregulate the finance sector is caused the GFC in the first place. Australia was saved from the worst of the financial crisis because our banks were regulated. Australians will be presented with a range of crazy  junk product as happened in the US will be courted by planners who again neither have to reveal their commissions nor operate in their best interest. It’s putting the hens back in the hen house with the foxes still there and a door sign Caveat Emptor, Buyer Beware.
CBA is in the news currently for lending money, designing product & selling the product with commissions at every step all in house. They don’t create anything of use only collect rent on shuffling paper. The more they shuffle the more they make.