Italian Connection comes under scrutiny

[The Colonel]

Simply that I'll believe the ATO and no one else.

Have the ATO been investigating anything?

I know the NRL sent Ian Schubert and the police have become involved in regard to the AVO, burying Fitzy thing but is there anything suggesting that he in under investogation other than Magnay's article?

Tax insiders say the pattern of Spagnolo-related companies using the same liquidator, in this case Peter Ngan, having a Spagnolo employee, Xavier Lo, control proxies at creditor meetings and having related entities as small creditors is similar to a "phoenix operation", and is a top priority for the Tax Office.
Unrelated to the Spagnolo companies, the Tax Office has specialist investigators specifically looking at phoenix operations as part of a $70 million four-year program.
"Phoenix arrangements - that is, attempts to evade tax through the deliberate, systematic and sometimes cyclical liquidation of related corporate trading entities - continue to be a focus," the Tax Office said.
"Where we have evidence of offences that may warrant prosecution, we will continue to work with the Australian Federal Police and the Commonwealth Director of Public Prosecutions."
The tax commissioner said between July 2008 and March 2009 $38.6 million in tax and penalties was raised from phoenix cases.

http://www.smh.com.au/news/lhqnews/police-tax-office-move-in/2009/07/06/1246732285836.html

 

[fish eel]

Have the ATO been investigating anything?

I know the NRL sent Ian Schubert and the police have become involved in regard to the AVO, burying Fitzy thing but is there anything suggesting that he in under investogation other than Magnay's article?



http://www.smh.com.au/news/lhqnews/police-tax-office-move-in/2009/07/06/1246732285836.html

Yeah, I pointed that out the other day, basically Spagnolo's business dealings get described as appearing like this thing called a phoenix scheme.....phonenix schemes are then described as being of significant interest to the ATO seems to me to be the sum of it.

I'd hazard a guess if he was under ATO investigation, the first we'd really know of it is if they charge him - and naturally, yes, if he were to be charged he should step aside whilst those charges are heard.

 

[born an eel]

You think the stories will stop just because he stands down? :lol:

hopefully in the sport pages, maybe not in the business section.

the other thing we can do instead is only have Ozzie talking to the media, thus keeping Roys profile low.

 

[Suitman]

hopefully in the sport pages, maybe not in the business section.

the other thing we can do instead is only have Ozzie talking to the media, thus keeping Roys profile low.

It will be more of an advantage than people realise.......having Osbourne as our spokesperson.
He has PLENTY of media experience, so will know what to say, and when to say it.
Can't see him putting his foot in it often, if at all, unlike the last clown we had.

Suity

 

[Fearless Freeman]

When you are in business with, or associate with those involved in:

* Insuarnace fraud
* Woodward Royal Commission
* Convicted of assault
* A string of company failures (same pattern each time)

Then, it is inevitable that sooner or later, questions will be asked.

I believe that Magnay and McClymont already know much more than what they have just published. Could be some interesting days/weeks ahead for both of the new Boards at Parramatta ?

Fearless F

 

[El Diablo]

Magnay wouldn't know what day it was