by Simon Black
Last week in the Australian state of Queensland, federal police confiscated a whopping 5,465 ounces of silver (worth roughly $106,000) from a man’s home.
This was part of a larger series of police raids instigated by the Australian Tax Office against individuals suspected of tax evasion.
Two obvious lessons come to mind which bear repeating:
1) As we discussed yesterday, only an idiot commits tax fraud or tax evasion. This goes without saying.