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Offline VoRogue

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« 2011-Mar-24, 11:23 AM Reply #25 »
when questioned by the interviewer as to what the secret of his success is he said....

"The idea is to have the odds in your favour, that's pretty simple"

and he added an ominous warning to all "overs" punters, (aka they who seek value)

"AND I PURSUE THAT WITH RELENTLESS INTEGRITY"  :sweat: :sad:

Online jfc

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« 2011-Apr-13, 06:29 AM Reply #26 »
No shortage of new episodes for our pugilistic pacifist philanthropist poseur but this latest one boggles the senses.

About Walsh's muse Kirsha Kaechele.

No shortage of googles on her exploits but it boils down to her establishing a project in an impoverished New Orleans district, which is now left in ruins with an unpaid hefty tax bill, after she fled to hole out for 5 months in Walsh's sarcophagus.

Now Walsh contends that she is going to set things right through this New York fundraiser:

http://lifeisartfoundation.org/events/ny-feast-do-you-want-gold

Wonder how much money will actually end up with the victims?

Children afflicted with lead poisoning clearly have a tragic existence, and they have to cop this spin doctor making their lives even worse.


Online jfc

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« 2011-May-22, 04:19 PM Reply #27 »
$20 for monanism? Now that's self abuse!

Tons of recent articles about this mathematical genius that seems to be challenged by cash flow projections.

Now to charge $20 for monocaps.

My spontaneous reaction is that along with the disappearance of his staff, and perhaps his muse, and closures, the project is in serious difficulties.

Maybe he could make ends meet by feeding his cloaca a cheaper cut of beef than Wagyu?

Or Wilkie could grant him a special exemption to install pokies there?

Perhaps Craig Coleman will bail him out by lifting his kickback to 17%?

Online jfc

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« 2012-Apr-03, 12:56 PM Reply #28 »
Q&A on 2 (showing now) seems to be one more homage to Walsh.

Wilkie and others seem totally oblivious to what has been published in Hansard.

Thanks to the VITAB fraud Walsh and his associates brought down ACT TAB. And now Tote Tasmania.

Costing many taxpayers money by compromising schools and hospitals.

But evidently 100 artificial vaginas and a cloaca, plus live tatooed pigs not only make all forgiven but push the twerp into Mary McKillop territory.






Online jfc

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« 2012-Apr-20, 05:10 AM Reply #29 »
http://www.themercury.com.au/article/2012/03/29/313891_opinion.html

"Amid reports in the national media that Mr Walsh's colleague Zeljko Ranogajec, described as the world's biggest gambler, is under attack by the Australian Tax Office, come rumours that Walsh himself is being targeted by the ATO."

Evidently the author of that opinion piece is unaware of the so-called "Zeljko-Walsh group"'s involvement in the VITAB fraud.




Online jfc

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« 2012-Apr-20, 03:48 PM Reply #30 »
Boy is Ross Honeywill (the author) gullible.

And David Dominic Walsh is at best being disingenuous with:

"At this stage no gambler in Australian history has ever been taxable".

Quaint turn of phrase.

But a significant number of such gamblers have paid tax.

I recall the public lamentations in the 70s of Melbourne Mick Bartley, when he had to sell his Rolls to meet his tax bill.

Perhaps our disruptive   emthup    personality will plead ignorance of that.

Even though he embraced many of Mick's methods and shared the same air as (an elderly) him at racetracks.

But he certainly can't insult our intelligence by pleading ignorance of formidable punter Tony Boyd who came to a notable settlement with the ATO about his punting pursuits.

As good a punter that Boyd was, he in no way compares to the stunts of Walsh's outfit.

Boyd operated alone on track, had ~300 fewer staff, and presumably zero kickbacks.

Offline Bubbasmith

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« 2012-Apr-20, 06:15 PM Reply #31 »
jfc

Tony Boyd, at various times, employed two people to transfer race results from newspapers to cards , which he then feed into his computer to determine race statistics.

I like this quote from Ross Honeywill...." David Walsh is one of Australia's leading philanthropists.

And despite the ATO rumblings, he is still here in Hobart, head held high amid a collection of art that has changed the world view of Tasmania and even Australia.

Other gamblers have left the Australian jurisdiction to enjoy the protection of tax havens or fled to countries with no extradition treaties with Australia."

 I wonder who feed him that crap ?


I also like this quote from Walsh in a previous promo..."Walsh’s real interest, however, was the development of a mathematical system that allows him and his partners to bet on horses and win. The process took time. “I spent over 100 hours a week working on it for most of the 80s and early 90s,” says Walsh. Around 15 or 20 years ago, Walsh and his partners cracked it. “It’s been working consistently since then"

I would have thought to come up with the rebate system of kickbacks would not have taken 100 hours a week over most of the 80's and early 90's, then again maybe he is not as clever as everyone thinks he is ?

 
« Last Edit: 2012-Apr-20, 06:44 PM by Bubbasmith »

Online jfc

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« 2012-Apr-20, 07:22 PM Reply #32 »
jfc

Tony Boyd, at various times, employed two people to transfer race results from newspapers to cards , which he then feed into his computer to determine race statistics.


(Sorry, only saw your initial post.)

Did not know that, but that steers me into an aside.

While there are books about prominent punters such as Joe Taylor, Melbourne Mick and Perc Galea, the stuff left out about the criminal element means such books should now be condemned as cynical fiction.

The exploits of Boyd, Babka and other presumably honest sharp punters of that era deserve books to preserve them in punting history, but there's Buckley's of that happening.

Instead we have garbage like Nichola inflicted on us.

Now, back on track.

Not to mention the incessant garbage we now have to endure about David Dominic Walsh.

Who on earth considering solely his published utterances would consider him a mathematical genius!

As one who is aware of further information, I still have found no objective evidence to suggest he has any honest talents whatsoever to justify his former wealth.

However there is absolutely no doubt about his unappealing role in the VITAB fraud.

Yet no media article has ever ever ever even hinted at this!

Online jfc

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« 2012-Apr-20, 07:53 PM Reply #33 »
Look, I don't know the author of this bon mot, but it strikes me as a succint remark that nails it:


'Noticed a typo in your posting  "I believe ZR to be the greatest gambler in history" I assume you meant to type
"I believe DW to be the greatest gambler in history".'

http://ausrace.com/archives/2007-June/054538.html


Offline value

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Online jfc

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« 2012-Jun-07, 07:07 AM Reply #35 »
http://www.smh.com.au/national/mona-founder-in-tax-office-sights-20120606-1zwqx.html

Sydney's weather has been inclement enough to dampen even the Underworld's gun sprees, giving Kate McClymont an opportunity to comment on Walsh's ATO developments.

Notably she declines to describe him as a maths genius or philanthropist.

Regretably she propagates misinformation about how Ranogajec and Walsh made their fortune.

The truthful account on the record is it was primarily through kickbacks and the ramifications from the VITAB fraud. Along with other dubious stunts yet to percolate through to the mainstream media.


Online jfc

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« 2012-Jun-19, 10:45 AM Reply #36 »
http://monablog.net/2012/03/20/a-girl-like-kirsha/

Here is a charming set of lyrics by our protagonist.

An ode to his fellow tax-dodging partner.

I'm stunned by the amazing maths and/or biology blunders by this alleged savant.

Even more if you allow for the idiosyncratic aspirations of the man from Nantucket.

Any takers as to the correct number per Kirsha?


Online jfc

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« 2012-Jul-05, 06:27 AM Reply #37 »
http://www.examiner.com.au/news/local/news/business/meet-the-man-behind-the-mona-gamble/2608521.aspx?storypage=0

Makeover, but still with the SVDP wardrobe.

Going back to Uni.

Book out for Saturnalia.

Looks like his ATO strategy is an insanity plea.

Online jfc

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« 2012-Jul-05, 02:37 PM Reply #38 »
http://www.abc.net.au/news/2012-07-05/brown-backs-walsh-in-tax-battle/4112438

How did this moron ever get elected!

His delusional stance on gambling has allowed Walsh to milk rank and file punters for close to billions!

Walsh can bet in play all he likes, leaving the rest of us at a huge disadvantage.


Offline fours

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« 2012-Jul-05, 02:58 PM Reply #39 »
jfc,

Brown is making a few mugs mistakes.

Taxaton is not about fairness or morality whatsoever. Occasional a fairness or moral spin is put on things but such is only a mask to fool the naive.
 
The ATO has always maintained that some will pay on tax on their 'gambling' activities if it turns out to be a business in fact. More ignorance from Brown as there hs been no change.

Brown is not the only on being ignorant. Who ever advised this group that setting up 'businesses' so that they would not personally be using the software would make their activites 'less of a business' was only telling them what they wanted to hear. It does in fact make their activites much much more of a business. I wonder what the charge was for that crap!

Fours
ps I do know of an instance were a QC knew his client would lose from the start but only ever told the client he would win. This lie gets the QC his handsome fee for representation of course..... whereas the truth does not.

Online jfc

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« 2012-Jul-05, 03:27 PM Reply #40 »
http://www.abc.net.au/news/2012-07-04/david-walsh-draws-atos-ire/4110766

As this touchy feely farce continues, here's the Tasmanian ABC's take.

Walsh's involvement in fraud is on the record. Among others, in Hansard regarding the VITAB fraud.

Bob Hawke was on the Zeljko-Walsh payroll.

While PM, John Howard (through complete ignorance of gambling) then incorrectly promoted their kickbacks.

And Bob Brown is now reminding us what a delusional hypocritical wowser he is!

Perhaps he can now organise a hunger strike for Track Suit Tony Mokbel!

Offline Bubbasmith

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« 2012-Jul-05, 07:45 PM Reply #41 »
Bob Brown has forever lived 'in the clouds" which is not only reflected in his naive views on Walsh, but in his political agenda when he lead the Greens, which has led to the ALP government caving in to legislate a carbon tax. 

Online jfc

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« 2012-Jul-06, 07:27 AM Reply #42 »
No shortage of media on Brown's hallucinations.

Consider:


"The Tax Office was contacted over decades by the big-time gamblers including David Walsh to ask if they had to pay tax. They were told 'No, we don't tax gambling'.

Does anybody here find this plausible?

Why doesn't Walsh show all of us the ATO document that tells him he should not pay tax on his 2006 winnings!

If he has that, then surely he can't be now be taxed?

Unless of course he forgot to mention some piddly details such as the $2.5 billion turnover, or kickbacks so obscene that they provide exclusive regular betting into sub 100% markets, thus making the gamble risk-free.

Offline Mullerbeck

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« 2012-Jul-06, 08:40 AM Reply #43 »
I think Bob Brown is upset that if ATO pushes too hard, Walsh will have to close MOMA and sell off his collection. My educated guess is that the poo making machine was Brown's main inspiration for most of the Greens' policies.

Offline Bubbasmith

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« 2012-Jul-06, 10:12 AM Reply #44 »
Where did Walsh get in his head that no punter has ever paid tax on his winnings ? He should get hold of Australian Tax Cases 1978 , CaseK25  pages 243-270 in which the punter ( Tony Boyd ) was assessed to pay tax on his winnings.Way back then, Boyd at one time, employed two girls to manually compile newspaper results and used a CALL/360 computer service "to establish & maintain an organised system of knowledge of betting as some sort of science". Compare Boyd's operation, where he was found taxable on his winnings, to the Walsh "Punters club syndicate", where hundreds are employed , banks of computers are utilised to formulate bets and an annual betting turnover is reputed to be in billions  .Any reasonable thinking person would assume Walsh and his associates are going to be taken to the cleaners by the ATO.

Offline Bubbasmith

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« 2012-Jul-06, 08:28 PM Reply #45 »
The headline article in this morning's Australian newspaper read "MONA in 'precarious' spot as tax office chases gambler's millions ".David Walsh is quoted as saying his $180 million Museum of Old and New Art is in a "precarious state" unless the tax office drops or settles its $40 million claim against him.Unsurprisingly that fool Bob Brown has been resurrected from his hideaway in Tasmania to open the batting on behalf of the beleagued Walsh and has suggested that Wayne Swann should contact the ATO to call off hound dogs from pursuing the hapless Walsh. I might pose the question to Bob Brown, what about all the punters Walsh has ripped off punters for the last twenty years  and what knowledge does he , Brown, know of the modus operandi of Walsh and his associates ?

Online jfc

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« 2012-Jul-16, 03:32 PM Reply #46 »
http://www.crikey.com.au/2012/07/16/tax-office-has-david-walsh-by-the-short-and-curlies/?wpmp_switcher=mobile


Tax Office has David Walsh by the short and curlies 
Chris Seage, a tax consultant and former ATO audit manager, writes: 
AUSTRALIAN TAX OFFICE, BETTING ODDS, DAVID WALSH, GAMBLING 
Mega-successful professional punter and millionaire arts enthusiast David Walsh must think we are all stupid. He wants us all to believe that his little punters' club comprising him and 18 other hand-picked professional punters that generates a turnover of more than $2.4 billion dollars annually is not a business but a mere hobby.

Thankfully the Australian Taxation Office is not that stupid and it is chasing Walsh hard for $37.7 million for the 2004-06 financial years, plus interest for unpaid tax on his little punters' club hobby.

Walsh claims the ATO has done a U-turn on previous advice it has provided him that income from the gambling wins was not assessable. Crikey understands that Walsh was provided a private binding ruling from the ATO that confirms that advice. The ATO is bound to abide by that ruling so long as the taxpayer has provided all relevant facts for it to make an informed decision.

But if the ATO subsequently believes it was not told everything, then the private binding ruling is no longer valid and all bets are off -- so to speak.

The tax office position on gambling and betting wins has been well documented since 1991 when the income tax ruling IT 2655 was publicly released. The ruling says that betting and gambling wins will not be assessable unless the taxpayer is carrying on a business and they provide examples of the criteria the courts have used to determine whether in fact a business is being carried on.

Crikey sources have revealed that the ATO case is "strong" and it has the various members of the punters' club by the "short and curlies". How on earth can anyone support the notion that Walsh and his cronies are carrying on a hobby when we know the following from Federal Court documents and what is on the public record:

The syndicate employs about 300 people at its offices in Hobart and Sydney and it runs a global gambling operation that places bets on races in Japan, Hong Kong, England, Australia and the US.
Destroying business records and using encryption software to attempt to hide details of their $2.4 billion global gambling business.
Conducting management discussions orally to avoid "leaving a paper trail".
Three holding companies have been formed to provide analysis including form, competitiveness, style of racing and on-track behaviour for the gambling syndicate.
Four members of the club have left Australia amid inquiries and audits by the Tax Office.
Furthermore, if the ATO wins the Federal Court action against Walsh and the court confirms the ATO allegations regarding the destruction of business records and concealing the true facts when requesting a private binding ruling from them, then the tax office should refer the matter directly to the Commonwealth Director of Public Prosecutions. These are serious matters and any allegations concerning a taxpayer that may have been deliberately deceiving the commissioner of taxation deserves the higher sanction of prosecution.

Historically, courts in Australia have been reluctant to make a finding that a taxpayer is carrying on a business of betting or gambling. When I worked in the ATO, I was always told to back away from making a case against gamblers as they did not want to set a precedent of allowing the gamblers’ losses. Let’s face it; most gamblers lose -- don’t they?

The Federal Court next month will not doubt be influenced by the decision of their brother judges in a leading tax case in 1989 on gambling wins known as the Brajkovich case. The full court in that matter established that gains and losses from gambling or wagering transactions are not taxable in the absence of a business. They ruled that the principle criteria for determining whether there is a business of gambling include the following:

Whether the betting is conducted in a systematic, organised and "businesslike'' way
Its scale: i.e. the size of the wins and losses
Whether the betting is related to, or part of, other activities of a businesslike character, e.g. breeding horses
Whether the bettor appears to engage in his activity principally for profit or principally for pleasure
Whether the form of betting chosen is likely to reward skill and judgment or depends purely on chance
Whether the gambling activity in question is of a kind that is ordinarily thought of as a hobby or pastime.
A lot of that applies to Walsh.

Offline fours

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« 2012-Jul-16, 05:09 PM Reply #47 »
Hmmm,

Discussing ATO published rulings and published case law is fine and commendable.... However revealing ATO 'policy' is a breach of The Crimes Act..... A minor breach might be over looked but som eople should probably be a little more carefull than they have been going forward.

I note no references to laying horses so far.

Fours

Online jfc

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« 2012-Jul-16, 05:21 PM Reply #48 »
Hmmm,

Discussing ATO published rulings and published case law is fine and commendable.... However revealing ATO 'policy' is a breach of The Crimes Act..... A minor breach might be over looked but som eople should probably be a little more carefull than they have been going forward.

I note no references to laying horses so far.

Fours

Revealing ATO policy is a crime?

Yet Bob Brown's moronic actions in ministerial interference with Walsh's case have him cushioning his cloaca in clover?



Offline Dark Target

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« 2012-Jul-16, 05:55 PM Reply #49 »

Whether the betting is conducted in a systematic, organised and "businesslike'' way
Its scale: i.e. the size of the wins and losses
Whether the betting is related to, or part of, other activities of a businesslike character, e.g. breeding horses
Whether the bettor appears to engage in his activity principally for profit or principally for pleasure
Whether the form of betting chosen is likely to reward skill and judgment or depends purely on chance
Whether the gambling activity in question is of a kind that is ordinarily thought of as a hobby or pastime.
A lot of that applies to Walsh.

A winning punter would display all of the above traits (other than the breeding horses line), a loser nearly none of them.

In other words, we want to tax winners and not losers.

They can go and get well and truly f****d if they want to base it on the above as far as i'm concerned.


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