buy the rumour?, page-45

Check the Age business today: MQG seems to get into big trouble with ATO due to tax avoidance mechanism

http://www.theage.com.au/business/ato-probe-threatens-banks-250m-tax-cut-20110410-1d9bf.html

"A $250 MILLION a year deduction relied on by investment bank Macquarie to slash its tax bill is under threat because of an Australian Tax Office probe into offshore banking units.

Despite being far smaller than the big four banks, Macquarie makes far greater use of offshore banking units (OBUs) to reduce its tax bill than ANZ, Commonwealth Bank, NAB or Westpac."

I was thinking of getting back into MQG. Might wait a bit.