Tuesday, December 21, 2004

Best Tax Accountant of the Year Award

There are times in Life when just about everything you do and hear about in the course of a normal day makes sense. You've pretty much got it figured out, whether it's the rate of your quickly levitating gas indicater arm, or the exact time all three networks cut to a commercial break.
But then you read about a judge down in Australia who ruled on the tax breaks of a convicted drug dealer....

Australia's High Court ruled in October that convicted drug dealer Francesco Dominico La Rosa could indeed write off a casualty loss of A$224,793 (about US$168,000) against his taxable income, even though the "loss" occurred when someone allegedly stole that amount that La Rosa had buried in his back yard and wanted to use for a heroin deal.
(The Australian Tax Office went nuts at the ruling, and efforts are under way to change the law.)


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