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Rumours and Stuff

Discussion in 'Parramatta Eels' started by Gronk, Jun 21, 2016.

  1. Oscarman

    Oscarman Juniors

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    The 'whole of game' TPAs are the real issue, as they would be concentrated at only a few clubs, and no doubt with the blessing of the NRL.
     
  2. Bandwagon

    Bandwagon Moderator Staff Member

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    They are likely from or in conjunction with the NRL, like face of the game and that kind off shit.
     
  3. 84 Baby

    84 Baby Coach

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    I find it very off too!
     
  4. lingard

    lingard First Grade

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    That is obviously one of the effects, yes.
     
  5. Gronk

    Gronk Moderator Staff Member

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    @Mole on the TPA fiasco

    https://wwos.nine.com.au/nrl/south-...9f1e-4931-90c0-f5b10a9c4d60?ocid=Social-NRLFS

    NRL RELEASE THIRD PARTY AGREEMENT DETAILS

    The NRL released the values of the 16 clubs' third party agreements (TPAs) last week, and they raised plenty of eyebrows.

    But the figures - published on the NRL's official website - only show what the clubs officially list as TPAs.

    Several clubs have found ways to funnel money to players by TPAs that are not on the books.

    One club, for instance, has a wealthy property developer as a benefactor and he builds apartment blocks, then sells units to star players for far less than market value.

    It's not illegal (although somewhat shady) and the NRL even knows it happens.

    And then, of course, there is the best TPA of all - the renowned brown paper bag.
     
    gaffer, TheRam and Poupou Escobar like this.
  6. 84 Baby

    84 Baby Coach

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    Umm yes it is, Moley

    Edit - actually take that back, the act itself isn’t illegal. Sorry Moley. But generally it would lead to the likes of tax evasion or bank fraud
     
    Last edited: Dec 17, 2019
  7. Chipmunk

    Chipmunk Coach

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    How is buying a property below market value tax evasion or bank fraud?
     
  8. Gronk

    Gronk Moderator Staff Member

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    IIRC we had a similar investigation with Dyldam and a few players. Hence the grey area of salary caps. The Cows chairperson could (hypothetically) build JT a house worth $2m and charge him $800k. Is the NRL going to have the building contract independently costed by a quantity surveyor ? Nope.
     
  9. Chipmunk

    Chipmunk Coach

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    I'm still trying to work out where this action, from either party, is either tax evasion or bank fraud?
     
  10. 84 Baby

    84 Baby Coach

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    He’s a property developer selling his wares under value. Before even considering whether a group of specific individuals are being treated at arms length, it’d raise concerns with the ATO (whether or not they’d be bothered investigating ATM is beside the point) that they weren’t legitimately showing their income. Add in providing non-commercial discounts to specific individuals at non-arms length transactions, that makes it all the more problematic.
    Bank fraud would generally go the other way, inflating values but still knowingly providing improper values to the bank is fraud (although they usually catch it nowadays. The purchaser could borrow at a lower value to buy it, immediately turnaround and sell it for market value and make a tidy profit. That’s an issue if they picked it up at a dodgy value.
    If you’re still not convinced by potential illegality, the economic ramifications might seem out of balance but change NRL player to local councillor.
     
  11. hindy111

    hindy111 Immortal

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    ATM
    Obviously has multiple meanings
     
  12. Bandwagon

    Bandwagon Moderator Staff Member

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    If the discount is understood to be in lieu of a payment for services rendered, then it is earnings that are taxable. Not declaring that would be tax evasion.
     
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  13. Gronk

    Gronk Moderator Staff Member

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    Plus with respect to property, if a sale of real estate was other than at arms length and less than market value, the Stamp Duties office in the relevant state would be looking at evasion as well.
     
    Glenneel and Gazzamatta like this.
  14. 84 Baby

    84 Baby Coach

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    Chipmunk is correct the actual purchase isn’t illegal itself, but I edited my original half hour before he said that to already say it myself
     
  15. 84 Baby

    84 Baby Coach

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    No it doesn’t. I meant exactly what you think I did
     
  16. 84 Baby

    84 Baby Coach

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    The biggest risk for discovery for a property developer ATM would be under paying GST. ATO have no problems tracking that on individual property sales. Plus contract clauses can cause explosion of problems.
     
  17. 84 Baby

    84 Baby Coach

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    Clubs do but do players have to provide declarations of income to NRL?
     
  18. TheRam

    TheRam First Grade

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  19. 84 Baby

    84 Baby Coach

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    TBF the only player that I can recall being coy was Drown, and he just re-signed.
    ....does that bode unwell for Lane signing then?
     
  20. Chipmunk

    Chipmunk Coach

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    I don't see there is any law in any jurisdiction in this country that in general circumstances dictates that one party can't sell a property to another party for whatever price it deems appropriate, for instance anyone can sell a $1 million property to someone for $1 and I'd suggest no laws are broken.

    On your bank issue, banks determine the value of the property when loans are involved, not the seller or the buyer.

    The local councillor issue you raised relates to an offence as a Government official. The only way the crime is committed is if one party is a Government official, these are different circumstances entirely.
     

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