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Why is it that your posts always read like one line tweets?? Yes, I would say these people you mention over extended. Trying to borrow too much at once, probably with the idea that more funds will mean quicker growth, rather than growing a business with strong foundations slower (not one...

Tom32, your post speaks volumes about your ethics. You pay because you signed a contract, and then your suggestion absurd of damaging property to screw the banks further.

Don't let it freak you out. By the end of 2012, you will have all converted to my views :p People these days want to take excessive risks for quick gains and quick bucks (eg, the Storm Finance people), but are then not prepared to pay up when things turn sour, insteading take the easy...

I bet you the creditors they screwed don't feel the same way.

Even at a $48% tax rate, I can't see how that much was accumulated without deliberately not paying tax. You call it "late" because the ATO eventually caught up with your tax dodge. I personally don't have time tax cheats. We pay a combined tax bill of $70-75K/yr. I don't believe you...

Well a $320K Personal Income Tax ATO debt suggest either many years of not paying tax, or a large income on which a lot of dodgy tax minimisation happened. How else do you accumulate so much. So while not paying tax like the rest of us, he bought 2 properties, and somehow now he should be...

I say just suck it up, and pay up (eventually). Too many people take the easy way out, and declare bankruptcy, and avoid their obligations. Get a 2nd, 3rd job, sell all your other assets. So you rorted on your taxes, and now you have to pay up?? Is that correct?