Is this for real?

[Chucaro]

I hope so and that if start a new trend will be awesome. :)
Now, let wait to read the small print......

Mining magnate Andrew Forrest announces coal conversion deal to free 2.5m from slavery in Pakistan (http://www.abc.net.au/news/2014-01-23/andrew-forrest-announces-plan-to-free-25m-slaves/5215032)

Mr Forrest has signed a deal with the Pakistani state of Punjab which will give it access to Australian technology which can convert lignite coal into diesel.

In return, he says Pakistan has agreed to bring in laws which will tackle the problem of slavery, or bonded labour.

[ramblingboy42]

Hmmmm.....I'll wait a bit before I doff my hard hat to him.

[PeterM]

He's the largest philanthropist in Australia so I would consider it entirely plausible.

[ramblingboy42]

He's the largest philanthropist in Australia so I would consider it entirely plausible.

Is he really? I didn't know that. Do you know who his beneficiaries mainly are?

I might have to doff my hard hat to him after that.
Dennis

[Homestar]

Is he really? I didn't know that. Do you know who his beneficiaries mainly are?

I might have to doff my hard hat to him after that.
Dennis

Andrew Forrest tops list of billionaires' donations (http://www.smh.com.au/entertainment/art-and-design/andrew-forrest-tops-list-of-billionaires-donations-20131113-2xg54.html)

Also - Andrew Forrest - Wikipedia, the free encyclopedia. Scroll down a bit.

He's not a bad bloke compared to others in similar positions in this Country.

[Gerokent]

Don't forget that for every dollar philanthropists' give away, one dollar is deducted from their tax bill. So he is giving away Australia's money to Pakistan and no doubt reaping benifits in the process.
Don't be fooled that he (or any of the philanthropists) are just nice guys (exept for Bruce Wayne maybe) :D

[bob10]

Andrew "twiggy" Forrest is a self made man, who has a habit of polarising people, you like him or you don't. The majority of the fat cats in the big end of town don't seem to like him, that is a pass mark for me, Bob


Living Black: Conversations 2013 Ep 5 - Andrew "Twiggy" Forrest preview - YouTube (http://youtu.be/g91o1Zq_XV8)

[bob10]

This is an interesting interview, Bob


Fortescue Metals Group (FMG): Andrew Forrest and Noel Pearson discuss Aboriginal business - YouTube (http://youtu.be/A1ejFs0eH38)

[bob10]

An interesting man, Bob


Fortescue Metals Group (FMG) Story: "Never, Ever Give Up" - YouTube (http://youtu.be/t9A3ribtheA)

[Homestar]

Don't forget that for every dollar philanthropists' give away, one dollar is deducted from their tax bill. So he is giving away Australia's money to Pakistan and no doubt reaping benifits in the process.
Don't be fooled that he (or any of the philanthropists) are just nice guys (exept for Bruce Wayne maybe) :D

A bit cynical aren't you?:D. To each their own.:).

It is still cheaper to not give money away than to do it. If it was such good value, then all the super rich would do it - and guess what - they don't. It's not just the money either, he is prepared to spend a lot of his own time in Aboriginal communities helping directly with his own hands with the money he gives them. As he has made his wealth from those areas, he is happy to spread a bit of the love.

While I'm sure there are tax benefits, I don't think he does it just for that. As mentioned in my first post, he is better than most that are in his position.

And, as mentioned he is a self made man - he wasn't born into that money, so personally, I'll cut him some slack.:)

[KarlB]

A very interesting man who (in 2011) had not payed any corporate tax for 16 years (see Taxpayer Twiggy goes out on a limb (http://www.afr.com/p/opinion/taxpayer_twiggy_goes_out_on_limb_74X94XYVoLkurjD1T zl5mJ))!

Cheers
KarlB
:)

[Homestar]

I don't think many of them pay much tax do they? Personally I think that is a different issue - at least he is giving some money to some people. That in itself saves the gubment money anyway.

[Pinelli]

Don't forget that for every dollar philanthropists' give away, one dollar is deducted from their tax bill. So he is giving away Australia's money to Pakistan and no doubt reaping benifits in the process.
Don't be fooled that he (or any of the philanthropists) are just nice guys (exept for Bruce Wayne maybe) :D

No. Every dollar given away reduces his taxable income by a $1. It probably reduces the tax he pays by ~30c. No different to you or me making donations - we're choosing to give away Australia's money to someone else as well everytime we make a charitable donation.

[Davo]

Each to their own opinions, but we've had a bit to do with him up here and dear me how I'd LOVE to tell some stories on this forum, but I think Incisor would be understandably unhappy. But, wow, the things we've come across. Quite funny, in some ways. Like in a book.

Okay, I'll just stop now.

[superquag]

Nothing new here... Last Century when i worked at WA Newspapers our morning teas were often visited by a bloke whose (an accountant) brother did tax work for one of Perth's richest entrepeneures.
He assured us that any one of us including apprentices paid more personal income tax than he did...
Nor did his business empire pay much corporate tax either.

[Davo]

Yes . . . I was going to mention certain similarities to certain WA characters from the previous century . . . :D Maybe you have to live here for a while to spot them coming.