a very big thanks to craig thomson, page-28

  1. zzedzz
    15,788 Posts.
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    23/08/11
    16:18
    Post #: 8861569
    Kincella,
    If a chap is due to $191k but it is offset against other debts, it doesnt change the fact that the $191k was income in the first place.

    That $191k would be subject to normal income tax. I wonder if such tax has been paid?

    Reports do say that the ATO is looking into transactions involving these people.
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