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RE: South Gippsland Bullion : Killed By The Australian Tax Office For Dissent?
How'd they close them down? Fine them into oblivion? I can see how they would try and prevent coins like this from being made, might draw in a little too much attention to the real sources of peoples' woes.
So this was in all likelihood a case of heavy-handed favoritism?
I don't know the specifics and SGB probably fear further repercussions if they say too much so we may never know. I believe they were audited and then told they had an outstanding tax-obligation for previous sales of the Series Of Dissent. I don't know if/how they resolved it, but they closed the doors in response to the ATO ruling.
The taxation matter is a (some would claim arbitrary at times) discretionary choice by the Australian Taxation Office about distinguishing between investment bullion, which is Goods & Services Tax free versus some other form of product which happens to be made of precious metal but in any case attracts GST.
More detail on this from the reputable and well connected 'Bullion Baron': http://www.bullionbaron.com/2016/06/screw-taxpayer-ato-compels-gst-on.html
I consider these to be a kind of Jerilderie Letter of Australian small mintage numismatic bullion. If you have or can get some they will be an esoteric & intriguing addition to a private collection, you can try to discuss and track them down in precious metals discussion & trade fora but a word of advice: don't try to hustle for them among Australian interest groups, such conduct will draw the diametric opposite of the desired outcome. It would serve far better to simply engage discussion on point of interest in precious metals and share appreciation and experience. If an offer or opportunity arises, well done, otherwise, you've already gained in the form of insight, possibly contacts, perhaps even friends.
Just remember that there is, still to this day, a fair measure of anarchic streak slumbering in the Australian psyche. Mateship can be made fast, and lost faster.
Words of Ned himself, from the Jerilderie Letter:
Just my 2 Dinari's worth.
Thanks. I am a fan of the Bullion Baron, even tried to get him posting here on STEEM. He's here as @bullion but maybe needs a bit of prodding ;)
Noted. I'll do my best.
Wow, it sounds like they were publicly told that it was a tax-obligation they should act like they couldn't pay off, but privately were told an offer they literally couldn't refuse. At least they walked away with their lives, right?
I don't think their lives were in danger. We aren't quite murderous here in Australia, but we're pretty good at shutting out the little guys.
Hah, guess I view things from a different lens when people who talk about _ _ _ 's suppression of silver prices almost gets rammed by a car after talking about it.