- bottom of the harbour
- A tax avoidance scheme. In the late 1970s a large number of bottom of the harbour schemes were operating in corporate Australia. The schemes involved buying a company with a large tax liability, converting the assets to cash, and then 'hiding' the company by, for example, selling it to a fictitious buyer. Thus the company (and often its records) vanished completely-figuratively sent to the 'bottom of the harbour' (originally Sydney Harbour)-with an unpaid tax bill.
Australian idioms. 2014.
Look at other dictionaries:
bottom-of-the-harbour — /ˌbɒtəm əv ðə ˈhabə/ (say .botuhm uhv dhuh hahbuh) adjective of or relating to a bottom of the harbour scheme. Also, bottom of the harbor … Australian English dictionary
bottom of the harbour — noun A tax avoidance scheme from the 1970s. 1982: The bottom of the harbour scheme was so named because a company once stripped of its assets, was dumped and, like a body in a cement suit, sank never to be seen again.<! the commas here look… … Wiktionary
Bottom of the harbour tax avoidance — was a form of tax avoidance used in Australia in the 1970s. Legislation (below) made it a criminal offence in 1980. The practice came to symbolise the worst of variously contrived tax strategies from those times. In its 1986/87 annual report, the … Wikipedia
bottom-of-the-harbour scheme — /bɒtəm əv ðə ˈhabə skim/ (say botuhm uhv dhuh hahbuh skeem) noun a tax evasion scheme whereby a company with a tax liability is sold and then resold so that the records, etc., for that company seemingly disappear and the tax is not paid; wet… … Australian English dictionary
Voyage to the Bottom of the Sea (TV series) — Infobox Television show name = Voyage to the Bottom of the Sea caption = Cover art from the 2006 DVD release of the 1st season of Voyage to the Bottom of the Sea showing stars Richard Basehart (l) and David Hedison, with the submarine, Seaview… … Wikipedia
Harbour porpoise — Harbour porpoise Size comparison against an … Wikipedia
The Amazing Race 2 — Season run March 11, 2002 – May 15, 2002 Filming dates January 7, 2002 – February 3, 2002 No. of episodes 11 Winning team Chris Luca Alex Boylan Continents visited … Wikipedia
The Sinking of the Rochdale and the Prince of Wales — Dublin Port had long been dangerous. It was only accessible at high tide. It was subject to sudden storms. Many ships were lost while waiting for the tide. Little was done until this disaster. The impact of 400 bodies [Reports of the numbers lost … Wikipedia
Harbour Solutions — The Halifax Harbour Solutions Project is a Canadian public infrastructure project nearing completion in Nova Scotia s Halifax Regional Municipality.The CAD $333 million project will construct three sewage treatment plants and connect various… … Wikipedia
Harbour Towne Marina — is located on Dania, Florida, on Muskegon Lake, just south of the channel connecting Muskegon Lake and Lake Michigan. Immediate neighbors are the Harbour Towne Condominiums, Harbour Towne Yacht Club, and Docker’s Fishouse and Lounge. This marina… … Wikipedia