Australia's largest stock trading and investment forum Australia's #1 stock forum

FMG

Click for more information

0.00%

$21.26 fortescue ltd

OZblue Singapore is a financial hub and a centre for trading of...

First 1825 Last

Share
Profile

Follow
er6n

1,362 Posts.

12/04/15

20:24

Post #: 15073114
Share

Originally posted by ozblue ↑

er6n,
From the ATO web page, one example......

"A wealthy individual was sentenced to eight-and-a-half years imprisonment for money laundering and avoiding millions in tax. He was investigated after declaring minimal income to the ATO while living a luxurious lifestyle.
The individual created several offshore companies to which he sold his shares well below the true market value. By doing so, he artificially reduced his tax liabilities in Australia, while keeping control of the shares."

Does that not sound similar to the 'hub' in Singapore?

If the purpose of the offshore companies is just to reduce tax, it is currently illegal.

If BHP and RIO sold IO to a company in Singapore 'cheaply', then that company sold the IO to China at the real price, and this company just happened to be owned by BHP/RIO then they are in a lot of trouble. I suggest you just don't understand tax law in this regard.

Expand

OZblue
Singapore is a financial hub and a centre for trading of metals and Iron Ore in Asia.
I don't confess to understanding the entire nature of
RIO and BHP businesses in Singapore but on the Surface
at least, there is nothing remotely suspicious!

Unless of course your a loony Green Australian senator
trying to sound important!

Last edited by er6n: 12/04/15

FMG Price at posting: $1.82 Sentiment: Sell Disclosure: Not Held
1 Upvote

0 Great analysis

Reply

Top Stories

RDN

If you thought lithium was dead, think again. The Pilbara will be central to the next upswing

Retail therapy in the shopping Scentre for some hot stocks

With financials holding the fort, materials must step up with some heavy lifting to stimulate stocks

AML

Cultural heritage agreement puts Walford Creek exploration back on the map

SBW

Shekel Brainweigh CEO Nir Leshem weighs in on AI adoption ahead of FY25

There are more pages in this discussion • 2,785 more messages in this thread...

First 1825 Last

Add FMG (ASX) to my watchlist

(20min delay)
Last $21.26		Change 0.000(0.00%)		Mkt cap ! $65.45B

Open	High	Low	Value	Volume
0.0¢	$21.70	$21.02	$956K	36K

Buyers (Bids)

No.	Vol.	Price($)
1	163	$22.85

Sellers (Offers)

Price($)	Vol.	No.
$19.14	342	1

View Market Depth

No.	Vol.	Price($)
1	163	22.850
1	3516	22.330
3	3173	22.320
4	2260	21.990
6	6833	21.930

Price($)	Vol.	No.
19.140	342	1
20.000	5189	2
20.200	3642	2
20.220	400	1
20.530	945	2

Last trade - 09.47am 25/06/2024 (20 minute delay)

FMG (ASX) Chart

Day chart unavailable