Originally Posted by
UAUdiver1959
Dear Alison/Bakkies or others with a better head for figures than me.
Before I write to the ATO/ASIC I need someone smarter than me to look at this. MRRU is a taxable entity, the ARU are not, they are a not for profit organisation.
Head line figures for the MRRU
2013 loss (3,099,877)
2014 loss (2,645,799)
MRRU
2013 purchased services from the VRU for 122,889 and then sold services to the VRU for 58,718
2014 purchased services from the VRU for 97,353 and then sold services to the VRU for 150,183
MRRU
2013 loan from the ARU 5,500,00
2014 load from the ARU 8,750,000
MRRU
2013 provided service to the ARU for 3,700,00
2014 provided services to the ARU for 5,986,404
MRRU
2013 purchased goods and services from the ARU 688,748
2014 purchased goods and services from the ARU 346,723
So in 2013 I see the MRRU borrow 5.5m and then sell back 3.7m of services and then purchased other services for 688,748 (1,111,252)
So in 2014 I see the MRRU borrow 8.75m and then sell back 5,986,404 of services and then purchased other services for 346,723 (2,416,873)
In 2015 when they sell the MRRU to Imperium Sports they forgive the loans above.
My questions are
1. Where in the ARU audited financials does it show the repayments/services from the MRRU, surely its an income/revenue; and
2. How do the MRRU justify selling back services to the ARU