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I am a Permanent Resident of Australia, and I do live here. Our rental properties are in Canada.

I have never said anything about being too smart. I said if I sign a contract, I honor it. Maybe I have higher standards than some here. Enough of this thread. It seems the ones that think it is ok to reneige on your obligation is ok, and will never change their mind..anymore than I will...

Perp, This is what the OP said about his debt. He knew he was taking a risk when he gambled with the money he owed the ATO. He figured he could walk away owing nothing, by declaring bankruptcy. Who's to say he didn't lend his wife money, and now she can afford to pay out his equity. Afterall...

Honestly I don't care. Laws seem to have be broken. It was deemed he owes the money. He's obligated to know the risk when he made the loan.

OP said it was personal debt..not business.

It is the governments job to collect all taxes owing. It is our job to legally minimize our amount of taxes owing. I hate paying income taxes like the rest. I have no intention of paying them ever again, but it will be done legally. If we make a mistake, and a deduction is not allowed, we...

I know he referred to it as personal debt. Maybe someone can clarify how you can get into that much debt? If it was from employed income, it would have been deducted from his paycheque, right? Hopefully someone can offer other explainations of how this can happen.

What do you say about a PM pocketing rent from LLs, insteading of passing this money along.Instead they use this money for other purposes than intended. The Pm loses that money thru a venture, that went south, and are now unable to give the LL their rent. The PM declares bankruptcy, and the LLs...

When it is determine to be due..and it seems to have been..it is tax payers money. This applies to everyone.

Ausprop, There are always going to be things you cannot easily insure for.When you purchase anything you are taking a risk.When you purchase property in a specific area, you accept the responsibility and consequences. The prior questions had to do with a person and should they be able to...

This does mention land..so it does seem to be available? http://www.eqc.govt.nz/ quote: "Following the earthquake on Tuesday 22 February, the Earthquake Commission’s (EQC’s) primary focus is to respond to requests for emergency repairs to residential properties in Canterbury. EQC...

http://www.gns.cri.nz/Home/Our-Science/Natural-Hazards/Earth-s-Forces/Earthquakes quote:"Every year, thousands of earthquakes occur in New Zealand that are too small to be felt. However, in the 15 years between 1992 and 2007, New Zealand experienced over 30 earthquakes of magnitude 6 or more. "...

You want to go there?? We have taken tenant insurance,(which includes our liability, our personal contents, and lots of other perks) and so have our adult children who also reside in the 5 - unit apt building we own.We also have property insurance on the building itself. So if we...

No...not at all.

No need for debtor's prison, as how do you get money then? You have them provide a detail of their income and expenses, and have the courts determine how much will be garnished until the debt is paid. If it takes a lifetime..so be it.

Negotiating with the ATO to stop or reduce the interest and/or penalty charges is one thing. I have problems with people deciding it is easier for them to pay cents on the dollar for their debts. This amount of debt was probably over a few years.I will bet during this time, there was no...

Honesty. Pay his debts until they are paid off. The fact he is now doing his best to transfer properties, instead of using that 70k to pay off his debt...speaks volumes. So many here are trying to assist him..hmmmm

Bluestorm, Can't believe I'm actually agreeing with you. Declaring bankruptcy is no longer a stigma for most people. They see it as a way out of paying their bills. What about the creditors?..everyone else has to pay higher costs because of it.