This sounds eerily like the course of events in "Atlas Shrugged." If this is indicative of Australian thought and politics, it won't be long before they're reduced to the stone age. Of course, I'm sure our tax laws aren't any better...
---Damien Broderick <damien@ariel.ucs.unimelb.edu.au> wrote:
>
> For the amusement of those who find the US tax system labyrinthine and
> Wicked, here's something from Australia:
>
> ======================
>
> Excerpt from The Sun-Herald - January 17, 1999
>
> "The tax raising legislation, already through the House of
Representatives
> and now before the Senate, is engagingly called A New Tax System
(Goods and
> Services Tax) Bill 1998.
>
> Section 165-55 sets out the bizarre powers of Tax Commissioner Michael
> Carmody in deciding whether certain tax schemes are taxable income
or not.
>
> The bill states: 'For the purposes of making a declaration under this
> sub-division, the commissioner may:
>
> '(a) Treat a particular event that actually happened as not having
> happened;
> and
>
> '(b) Treat a particular event that did not actually happen as having
> happened; and
>
> '(c) Treat a particular event that actually happened as:
>
> (i) Having happened at a time different from the time it actually
happened;
> or
>
> (ii) Having involved particular action by a particular entity
(whether or
> not the event actually involved any action by that entity.)' "
>
> ========================
>
> Damien Broderick
>
==
Terry Donaghe: terry@donaghe.com
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