What is interesting though is Note 13 on the Half Year Financials:
http://www.asx.com.au/asxpdf/20170316/pdf/43gvgvmbwb23ph.pdf
Payments to:
WW - Azalea Consulting Pty Ltd
KJ - Wavecap Holdings Pty Ltd
HB - Milagro Ventures Pty Ltd
BN - Grainger Consulting Pty Ltd
My tax accounting is a little rusty, but doesn't the PSI tax laws state that if someone is providing services on a non-employee basis, they must pass certain rules like:
-https://www.ato.gov.au/business/personal-services-income/working-out-if-the-psi-rules-apply/
-https://www.ato.gov.au/uploadedFiles/Content/MEI/downloads/Working_out_if_the_PSI_rules_apply.pdf
Rules are:
For the PSI being tested, you must be:
■ paid to produce a specific result
■ required to provide the equipment or tools, and
■ required to have mistakes fixed at your own expense.
Then go look at the recent Half Yearly Report, Note 3:
Computer Fees - $1,867-
General Office Exp - $2,177-
Printing/stationary - $7,561-
Telephone - $879-
Travel/Accom' - $61,932-
If these people are all being paid through private entities you would think that it is clear that they fail the PSI tests... i assume at least.
Considering that the above 4 make up the entire work force of BGS and are all providing their services through PTY LTD structures, why would BGS need expenditure in the above areas of; Comp Fees, General Office Exp, Printing/Stationary, Telephone, Travel/Accom.
@The Guatemalan
Your thoughts?
***i am not a tax accountant and anything i say should be taken with a grain of salt***
- Forums
- ASX - By Stock
- FFX
- WW letter
WW letter, page-283
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FFX (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
EQN
EQUINOX RESOURCES LIMITED.
Zac Komur, MD & CEO
Zac Komur
MD & CEO
SPONSORED BY The Market Online