1
Me neither haven't got to the RA statements yet as I am on the Rebels figures at the moment. Will get to the RA ones will be interesting to see the figures on there in regards to the Force.
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
Love how grass roots shows Vic, NT, SA getting more in grants money than us.
The money that the Rebels spent on Rugby Operations is truly frightening.
I will try and dig up Chris Dutton's article on WA and ACT being the most underfunded unions.
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
Exactly Lou! And the 2013 accounts show a further $4million in “services” that don’t appear in the income statements for the MRRU for the same period. Definitely one for the ATO there as the MRRU is a taxable entity (whereas the ARU is not).
Bakkies - the $13mill is made up of that $8.75m (the outstanding loans up to 31 Dec 2014) & a figure of about $4.7m (from memory) which was the amount the ARU needed to pay to ensure Cox got the MRRU debt free.
The “services” figures for 2013 and 2014 are nothing to do with the $13mill and are a complete mystery. I mean, what services could the MRRU possibly have provided to the ARU over the course of 2013 and 2014 that amounted to almost $10million??? And why were those “services” not shown as revenue to the MRRU in the same accounts??
Very very fishy indeed if you ask me. I put all of this in my submission to the Senate so hopefully they have asked questions of ASIC about it. And where ASIC goes, the ATO is very close behind.....
Proudly Western Australian; Proudly supporting Western Australian rugby
Is this "save the Rebels at all costs" simply because the ARU does not want to take a thumping great impairment on its balance sheet by writing off the money spent on the Rebels?
If it was a matter of what has already been spent on the Rebels, then that's sunk cost, so it's gone, no matter what. Surely the ARU is not hoping that by building up the Melbourne team, the cash outflow can be reversed into a significant cash inflow and the Rebels can repay the money which the ARU has pumped into it?
I forget the number of times I've gone through accounts and found entries for large sums of money booked as "Management Fees" or "Consultants Fees" or "Professional Services", with no qualifications as to exactly what the expenditure was for (and with depressing frequency are found to be related party transactions, after digging around a bit).Originally Posted by Alison
Last edited by FingerTips; 29-11-17 at 15:42.
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
That whole payments from a related party crap popped up again. Terms no more favourable than other related parties. Then something about related parties buying membership and corporate hospitality packages? What, the ARU need their own boxes? Did not buy any at NIB.
Great point about the MRRU selling back 'services' to the ARU for almost $6m?? WTF is all that about. Sounds like some dodgy tax write offs to me. Slippery, very slippery. KPMG need to have the riot act read to them.....signing off on this shite
'I may be a Senator but I am not stupid'
https://omny.fm/shows/the-alan-jones-breakfast-show/cameron-clyne
Link to Senate Report http://www.aph.gov.au/senate_ca
https://www.change.org/p/rugby-australia-petition-for-cameron-clyne-to-resign-as-chairman-of-the-rugby-australia-board
"We have relied upon the confirmation by the management in the absence of independent external ..."
"We have relied upon management’s representations that it is confident of realization of amounts due ..."
"We have relied upon the Board's governance procedures ..."
"We have relied upon the representations given by the Management in respect of transactions, the validity, completeness and the values thereof ..."
etc ...
etc ...
etc ...
I dont read that as ASIC are already investigating ARU and MMRU. It looks like ASIC just providing the financial reports that the senators requested, but providing them about a month too late for the senate report!.
Hi Michael,
Did someone get back to you with the below info? If not my apologies, as I see the report has been released.
If there is anything else we can do, please let me know.
Robert
(who is manager of government relations for ASIC)