# Wow! 10 Years!



## Palladium (Dec 19, 2016)

It's still about 2 months away, but i was just sitting here thinking wow it's been 10 years !!!!!


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## silversaddle1 (Dec 19, 2016)

Congrats Old Timer. :lol: :lol: :lol: :lol: :lol: :lol:


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## Topher_osAUrus (Dec 19, 2016)

:G 
Here's to hoping there is ten more (times ten...i want my kids' kids to be members)


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## Palladium (Dec 29, 2016)

Am I missing something here? https://www.theguardian.com/australia-news/2016/dec/27/tax-office-to-crack-down-on-gold-scam-costing-taxpayers-610m


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## g_axelsson (Dec 29, 2016)

Palladium said:


> Am I missing something here? https://www.theguardian.com/australia-news/2016/dec/27/tax-office-to-crack-down-on-gold-scam-costing-taxpayers-610m


Probably, since you are asking that question. :mrgreen: 

Crook is buying bullion for a dollar. This is without sales tax as bullion is considered as a currency.
Crook melts down bullion and makes scrap or jewellery.
Crook sells Refiner the scrap for a dollar + sales tax of 10 cents.
Refinery refines the scrap into bullion and sells it for a dollar and get the 10 cents back from the government.
Crook never declare the sales tax it received from the sale and pockets the 10 cents. This is the illegal part but hard to spot without thorough tax revisions.

Add another company as a layer between the crook and the refinery and it will be really hard to spot.
Each cycle gives you the sales tax minus refining fees. Even easier if the refinery is in on the scam.

Göran


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## Palladium (Dec 29, 2016)

g_axelsson said:


> Palladium said:
> 
> 
> > Am I missing something here? https://www.theguardian.com/australia-news/2016/dec/27/tax-office-to-crack-down-on-gold-scam-costing-taxpayers-610m
> ...



Since when does the customer get the sales tax? If it's a sales tax ain't it suppose to go to the government?


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## g_axelsson (Dec 30, 2016)

Palladium said:


> g_axelsson said:
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> 
> > Palladium said:
> ...


The seller is adding the sales tax, the customer is the refinery.

Göran


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## rickbb (Dec 30, 2016)

Palladium said:


> g_axelsson said:
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> > Palladium said:
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The seller collects the tax, but instead of sending it on the goberment, he pockets it. Simple tax fraud, they always get caught sooner or later because the buyer, (the refiner in this case), reports the sales tax they paid and tries to deduct it from their income taxes as an expense.


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## Barren Realms 007 (Dec 31, 2016)

Yea something doesn't sound right here.


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