Non council stuff, say 20k on my 20 IPs is a sizeable bit of cash to clean. You could stagger the revals later depending on how the market is going in each of the areas you're in and get access to clean funds then.
All theoretical of course.
Laundering money
- Thread starter Ed Barton
- Start date
Non council stuff, say 20k on my 20 IPs is a sizeable bit of cash to clean. You could stagger the revals later depending on how the market is going in each of the areas you're in and get access to clean funds then.
All theoretical of course.
Probably would - but wouldn't get rid of serious cash. Say 10k per property - you'd need 100 properties to get rid of 1m of cash. How do you 'legitimately' have 100 properties if you're a meth cook?
If I was a big time drug dealer I would make sure I was paying more then my fair share of tax...
Accountant: I've got your tax down to 795k this year
ED: Let's just call it a million, send the ATO the return with a cheque for mil.
Ever watch The wolf of Wall Street? Very creative, used old aunt to launder money, went on for years, and then there was the body wrap, nice, as long as there were no body searches.
More reform is on its way: http://www.propertyobserver.com.au/...il&utm_term=0_a523fbfccb-f66ddd53f4-245426297
Division 1:
Cash Businesses: Looking for highly fluctuating business sales as its easier to distort figures. Nightclubs/disco's have been suggested. Yes very good. On a good night one can pump $100K of takings through. Two nights a week, $200k.
Division 2: International money exchange business:
If you can get into the Asian connection, then very appropriate, as with foreign exchange controls, this is very advantageous. Especially when the 'end source' can be used as the further filtering system
Division 3:
Property:
With a couple of good cash businesses using generating paper profits, the banks will lend more easily. Borrow money, pay off the property quicker using the profits form the business + depreciation (which is cash flow). Add a little bit extra, because nobody can track exactly.
Make sure this division has very good 'legal seperation' from the main black part of the business.
Division 4:
Acquisition of overseas businesses. This is done through investing in an overseas business (shelf business) that does business with another shelf business (overseas), which basically makes one business profitable, the other not. The profitable business distributes dividends into the overseas bank account, show profit which is declared. Tax is paid on the different. But a legitimate source of overseas bank accounts can be generated, through the international businesses with overseas bank accounts.
This money then gets washed clean back into Australia. And can start fresh from this source of funds and clean funds.
Division 5:
Money sent in small increments overseas, using a broad network of runners all sending amounts under $AU10k.
This wont be clean yet.
But to clean it up, it then moves into an overseas based family business, not connected with the 'local Australian business'
Division 6: Start to set up investment companies and investment trusts in overseas banks. Part of the 'post wash through' over time will move into these accounts, showing an increase in 'clean net wealth'
And so on and so on.
The funny thing is that the 'black economy' fast wealth creators blow themselves up because the money comes in fast, the adrenaline kicks in, and the 'need to enjoy and showoff' takes precedient.
There is a business that is servicing one group. To take care of underlyings, they are given a budget of $30k a month to spend drinking. That service business is legit. Happy to take their business. Mid-level bosses send cash once a month to cover everyones bill up to a limit of $30k a month.
Call it the gansters version of a credit card. lol
Cash Businesses: Looking for highly fluctuating business sales as its easier to distort figures. Nightclubs/disco's have been suggested. Yes very good. On a good night one can pump $100K of takings through. Two nights a week, $200k.
Division 2: International money exchange business:
If you can get into the Asian connection, then very appropriate, as with foreign exchange controls, this is very advantageous. Especially when the 'end source' can be used as the further filtering system
Division 3:
Property:
With a couple of good cash businesses using generating paper profits, the banks will lend more easily. Borrow money, pay off the property quicker using the profits form the business + depreciation (which is cash flow). Add a little bit extra, because nobody can track exactly.
Make sure this division has very good 'legal seperation' from the main black part of the business.
Division 4:
Acquisition of overseas businesses. This is done through investing in an overseas business (shelf business) that does business with another shelf business (overseas), which basically makes one business profitable, the other not. The profitable business distributes dividends into the overseas bank account, show profit which is declared. Tax is paid on the different. But a legitimate source of overseas bank accounts can be generated, through the international businesses with overseas bank accounts.
This money then gets washed clean back into Australia. And can start fresh from this source of funds and clean funds.
Division 5:
Money sent in small increments overseas, using a broad network of runners all sending amounts under $AU10k.
This wont be clean yet.
But to clean it up, it then moves into an overseas based family business, not connected with the 'local Australian business'
Division 6: Start to set up investment companies and investment trusts in overseas banks. Part of the 'post wash through' over time will move into these accounts, showing an increase in 'clean net wealth'
And so on and so on.
The funny thing is that the 'black economy' fast wealth creators blow themselves up because the money comes in fast, the adrenaline kicks in, and the 'need to enjoy and showoff' takes precedient.
There is a business that is servicing one group. To take care of underlyings, they are given a budget of $30k a month to spend drinking. That service business is legit. Happy to take their business. Mid-level bosses send cash once a month to cover everyones bill up to a limit of $30k a month.
Call it the gansters version of a credit card. lol
They can tell the AFP.
just in case anyone wondering, the above comes from enjoying too many spy/espionage/thriller series.
No personal experience, lol.
No personal experience, lol.
Willair you know too much.
The ATO should take you in and make you talk
That's what happens when you sit in nth nsw country hotels and talk too people even if only 20% is fact and the other 80% urban myth it would make underbelly look like playschool..
https://www.youtube.com/watch?v=34ag4nkSh7Q
5
There would be very few nightclubs/pubs taking 100k a night and you then have the issue that if the turn over 10M+ per year how do you fund the multi million dollar purchase? If it's only the business you are buying only, you will need 100% equity.
CCTV works against you from a patronage point of view too if you are claiming its from cover charges. Computerised POS and supplier records will enable a quick check of stock+margin<>income.
Maybe start an ebay business buying and selling items from yourself registered in several different jurisdictions employing drop shipping direct from another jurisdiction?
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