ABC Bullion pooled account

[wogsncash]

So I have a SMSF and some bullion in the pooled or unallocated account with ABC bullion. I recently made a PM purchase and the owner of the shop said that ABC was in legal hot water and that it may not be safe to have money in the pooled account.

Does anyone have any thoughts or knowledge on this? I'm not ready to pull the trigger on any action based off of one account and the news articles point to just one business arm of the Pallion group.

 

[Aurora et luna]

I think there was a recent judgement by the tax office against their group for something like 50 million. Maybe someone can provide more accurate or updated information!

 

[wogsncash]

Yes I had read that. But this guy made it sound like that they were on the verge of going bust. Pallion group is a billion dollar company so I don't see $50mil being a deal breaker.

 

[Bullion Baron]

I have no idea about the financial position of the group (or companies within it), but a group or company having a value of $X doesn't mean they have $Y to pay a tax bill.

It is a complicated story, but here is a long (legal) breakdown of the events in the AAT decision that may be of interest: http://www8.austlii.edu.au/cgi-bin/...t=1;query=ACN 154;mask_path=au/cases/cth/AATA