Call this fine not “a Fine”
A fine that amounts to less than 10% of the profit made on those trades, or 0.025% of Westpac’s 7.195B last profit.
Source: Westpac cops puny fine for insider trading. What’s the scam? – Michael West
Category: scam
The drawn-out saga of Dixon Advisory – the superannuation managers who enticed their clients into investment assets they managed – has come to an end. Four cents to the dollar for the superannuants; millions for lawyers, accountants and ASIC. What’s the scam?
The scam is how Dixon Advisory enticed their superannuation clients into investing in assets that they managed, in many cases without properly considering their client’s circumstances when making those investments.
Stopping this sort of Corporate Colonisation of Australia is a definite “No” vote. Our shame those found guilty won’t be punished. Indigenous Australians didn’t steal anything but will be if “No” passes and the world will judge us all as citizens of a shameful nation.
Stolen Australian Government tax policy information was shared between two top-level groups of PricewaterhouseCoopers (PwC) Australia’s controversial “Transfer Pricing” tax division, documents reveal.
The NSW government’s Landcom has sold a hectare of prime bushland in Sydney for just $41k to shopping centre developers but has declined to respond to questions about the number of people at the auction. Callum Foote reports.
Last month, the NSW Government’s land and property developer Landcom sold a hectare of bushland in Sydney’s Shire for just $41k. The median house price for the area is $1.4 million, with the sale going to shopping centre developer Revelop.
Source: Did you miss the auction? Shucks. Government sells a hectare of Sydney for just $41k – Michael West
Economic Theory overlooks reality,
It is not that the sacred market cannot pay workers better, but rather that it is not convenient. A person in a state of need (tied to debt or poverty) is a modern, docile, manipulable, functional slave. Just like the indebted countries—the indebted poor, not the indebted rich.
Source: Supply and Demand Is a Scam to Disguise Inhumane Working Conditions | The Smirking Chimp
A new report confirms that Big Business in Australia is totally dominated by foreign owners, particularly the fossil fuels export sector now whining, make that ‘always whining’, about modest tweaks to curb their profiteering. What’s the scam?
Source: Business Council of Australia … or Business Council of Foreign Multinationals? – Michael West
Consulting firm PwC pulled off a remarkable feat as Adani pushed to open its Carmichael Coal Mine — it got paid by both the miner and its government overseer. Rod Campbell reports on the maestros of conflicts of interest.
Source: PwC and the Adani mine triple dip. A conflict of interest? Surely not – Michael West
The Centre for Public Integrity has published analysis of political donations and government contract work for Big 4 firms EY, KPMG, Deloitte and PwC. What’s the scam?
Source: Government gutted as PwC, Big 4 pick up $1.4b a year for giving advice – Michael West
Wow $12 and everybody is happy while we the people get screwed and pay
Be suspicious, be very suspicious! Albo is capping off Labor’s first year in office triumphant, his deal to cap gas and coal prices even lauded by the pro-gas corporate media. What’s the scam?
Source: Be suspicious: behind Albo’s masterstroke to cap fossil prices, ease power bills – Michael West
What’s the scam? It’s the fossil fuel corporations again, the usual suspects, paying no income tax despite billions in income. For yet another year: Exxon nought, Shell nought, Ampol, BP and APLNG nought, and Chevron putting them all to shame with the $30 in income tax paid on its $9bn in revenues.
Source: The Usual Suspects: tax office dump lays bare Australia’s biggest tax dodgers – Michael West
Last week, the White House released a proposed framework for the regulation of cryptocurrency. The document gives the green light to regulators to continue crafting rules around the industry, and even explores the creation of a “CBDC”: a central bank digital currency. Actor, writer, and crypto skeptic Ben McKenzie joins Ryan Grim to discuss the framework and the future (or lack thereof) of the crypto industry.
Transcript coming soon.
Scamming the taxpayer has become a way of life for the national security state. We deserve a more transparent, democratic policy-making process. Our elected officials owe us their allegiance, not the defense-industry giants that make such hefty campaign contributions while beefing up lawmakers’ stock portfolios.
Isn’t it time to end the national-security version of spending unlimited in Washington?
Source: The Weapons Industry as a Taxpayer Scam | The Smirking Chimp
Offenders can intercept payment invoices, or create their own, and funnel victims’ funds into their own accounts. Businesses and individuals make their payments as usual, but unknowingly pay the offender.
via $2.5 billion lost over a decade: Nigerian princes lose their sheen, but scams are on the rise
The Abbott government will increase the visa applications charges for partner visas by 50 per cent, raising $373.6 million for the budget repair job.
The cost of a foreign affair is set to increase by several thousand dollars.
Australians who fall in love with or marry a foreigner will have to pay 50 per cent more for partner visa application fees.
The move was announced in the mid-year budget review on Monday and will raise $373.6 million in revenue over four years.
The price rise will come into force from January 1, 2015.
Meanwhile, plans to increase Australia’s refugee intake starting in 2017-18 will cost $140 million over two years.
Immigration Minister Scott Morrison previously said the move would be fully funded from offsets within his portfolio.
There will be an extra 2500 places in the humanitarian program in 2017-18 and 5000 the following year with a total of 18,750 spots that year.
The revival of temporary protection visas and introduction of safe haven enterprise visas come with a price tag of $52.9 million this financial year and $340 million over the next three years.
Nearly $32 million has been added to border protection operations with the purchase of the Ocean Shield vessel two years early.
The Triton ship will be leased for an extra six months until June 2015.
The government has also pulled $96.5 million over two years from building a transit centre in Port Moresby Papua New Guinea to accommodate asylum seekers whose refugee claims have been rejected and are awaiting removal.
Instead they will stay in the Manus Island detention centre until they are repatriated.
PARTNER VISA CHARGES
* Provisional and permanent partner visas – currently $3085 increased to $4627.50
* Prospective marriage visa – currently $3085 increased to $4627.50
* Temporary and permanent partner visas – currently $4575 increased $6865.50
(Source: Immigration Department)
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