More bad press for the church. This is the latest on TSCC's tax problems in Australia. This article is from The Sydney Morning Herald.
The Mormon Church is significantly reducing its use of a controversial shell company after an investigation revealed it had engaged in alleged serious tax evasion in Australia.
It sounds like Simon Dr. Southerton was the main whistle blower:
Former Mormon bishop Dr Simon Southerton, who made the initial complaint about the church’s tax practices to the charities’ regulator, said the shift in Australia was important. It comes several months after the US Securities and Exchange Commission settled a case against the Mormon-run Ensign Peak Advisors and the church for $5 million after it failed, over a 22-year period, to disclose its investments and hid its assets via a network of shell companies.
“One has to hope that this signals the beginning of Australian regulatory authorities taking action in respect of the $400 million rort the church has been engaged in at the expense of the Australian taxpayer,” Southerton said.
If the article is accurate, that looks like flat-out fraud. It says that tithing and other donations to churches are not tax deductible under Australian law. To get around that, the church didn’t just set up a shell Corporation — it set up a shell charitable organization through which tithing and church donations were funneled. Charitable donations are tax deductible, but if the charity is just a shell through which tithing and other donations to the church are funneled, that’s tax fraud. It’s lots worse than simply hiding assets. That’s ripping off Australian taxpayers.
SMH.
he/him
“I prefer peace. But if trouble must come, let it come in my time so that my children can live in peace.” — Thomas Paine
It's a bunch of suits that try to keep the Company going.
Apologists try to shill an explanation to questioning members as though science and reason really explain and buttress their professed faith. It [sic] does not. By definition, faith is the antithesis of science and reason. Apologetics is a further deception by faith peddlers to keep power and influence.
I find it very unsurprising based on the original news on this matter. It looks like the church is trying to 'fix' things so that once the pronouncement/judgement is made they can claim that they worked to fix things as soon as they were aware (that the government was aware). It is merely following the SEC pattern and they will consider the matter closed and try to move on. I wonder what it will do for tithing in Australia though.
