bottom of the harbour

bottom of the harbour
A tax avoidance scheme from the 1970s.

1982: The bottom of the harbour scheme was so named because a company once stripped of its assets, was dumped and, like a body in a cement suit, sank never to be seen again.<! the commas here look wrongly placed, but are in fact as shown in Wilkes &mdash; , 5 June 1982, page 13. Quoted in G. A. Wilkes, A Dictionary of Australian Colloquialisms, second edition, 1985, , ISBN 0-424-00113-6.


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  • bottom of the harbour — A tax avoidance scheme. In the late 1970s a large number of bottom of the harbour schemes were operating in corporate Australia. The schemes involved buying a company with a large tax liability, converting the assets to cash, and then hiding the… …   Australian idioms

  • bottom-of-the-harbour — /ˌbɒtəm əv ðə ˈhabə/ (say .botuhm uhv dhuh hahbuh) adjective of or relating to a bottom of the harbour scheme. Also, bottom of the harbor …  

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