bottom of the harbourbottom of the harborn.

Brit.

/ˌbɒtəm əv ðə ˈhɑːbə/, U.S.

/ˌbɑdəm əv ðə ˈhɑrbər/, Australian English

/ˌbɔtəm əv ðə ˈhʌːbə/,

/ˌbɔdəm əv ðə ˈhʌːbə/

Forms: see bottom n. and of prep. and the adj., pron.², and n.¹ and harbour n.¹

Origin: Formed within English, by compounding. Etymons: bottom n., of prep., the adj., harbour n.¹

Etymology: < bottom n. + of prep. + the adj. + harbour n.¹Originally with reference to the practice of destroying company records by dumping them into Sydney Harbour in an attempt to evade tax; compare quot. 1980² at sense 1.

Australian. Now historical.

1. attributive (also hyphenated). Designating a tax evasion scheme in which a company is stripped of its assets, its ownership is transferred to a (typically fictitious) third party, and its financial records are deliberately lost or destroyed, rendering it unable to pay or be assessed for any tax for which it is liable. Also: of, relating to, or involved in such a scheme.In quot. 1980¹ humorously as the name of a fictitious company.

ΚΠ

1980 Austral. Financial Rev. 11 Jan. 1/1 The tax schemes are jokingly referred to as ‘Bottom of the Harbour Pty Ltd’, by members of the Sydney tax avoidance fraternity, as many of the documents have gone to a watery grave.

1980 Commonw. Austral. Parl. Deb. (Senate Official Hansard) 3 Dec. Let me explain what we mean by ‘bottom of the harbour’ schemes. Companies known as straw companies are set up and stripped of their assets, and the documents and all the relevant material are destroyed in some way or conveniently dumped in Sydney Harbour.

1985 Canberra Times 28 Mar. 8/3 This bill would ensure that retrospective tax was also collected from trustees or companies..who were former owners of bottom-of-the-harbour companies.

1990 Sydney Morning Herald (Nexis) 3 Mar. 9 Profit-stripping from trusts, another form of bottom-of-the-harbour evasion.

2015 Age (Melbourne) (Nexis) 11 Feb. 2 (headline) Modern ‘tax dodge industry’ rivals bottom-of-the-harbour scandal.

2. In phrases: to go to the bottom of the harbour: (of the financial records of a company) to be put somewhere inaccessible; to be (deliberately) lost, concealed, or destroyed. to send (also put, etc.) to the bottom of the harbour: to conceal or destroy the financial records of (a company); to treat (a company's records) in this way.

ΚΠ

1982 Commonw. Austral. Parl. Deb. Senate Official Hansard 25 Aug. 889 The books and records of the Keirad company went to the bottom of the harbour.

1983 Commonw. Austral. Parl. Deb. (Senate Official Hansard) 1 June 1116/2 The company had effectively been put to the bottom of the harbour.

1984 Canberra Times 11 Apr. 3/1 The shares in the company are ‘sold’ to fictitious people.., and the company can never meet its $400,000 tax liability—it has been sent to the bottom of the harbour.

1992 Herald Sun (Nexis) 27 Mar. The treasurer..was yesterday accused in parliament of being involved in tax evasion... ‘You knew a lot about it..when you sent your money to the bottom of the harbor,’ Mr Peacock said.

2005 J. Braithwaite Markets in Vice, Markets in Virtue iii. Some 7000 companies were sent to the bottom of the harbour between 1974 and 1981.

This is a new entry (OED Third Edition, September 2016; most recently modified version published online December 2021).

单词	bottom of the harbour
释义	bottom of the harbourbottom of the harborn. Brit. /ˌbɒtəm əv ðə ˈhɑːbə/, U.S. /ˌbɑdəm əv ðə ˈhɑrbər/, Australian English /ˌbɔtəm əv ðə ˈhʌːbə/, /ˌbɔdəm əv ðə ˈhʌːbə/ Forms: see bottom n. and of prep. and the adj., pron.², and n.¹ and harbour n.¹ Origin: Formed within English, by compounding. Etymons: bottom n., of prep., the adj., harbour n.¹ Etymology: < bottom n. + of prep. + the adj. + harbour n.¹Originally with reference to the practice of destroying company records by dumping them into Sydney Harbour in an attempt to evade tax; compare quot. 1980² at sense 1. Australian. Now historical. 1. attributive (also hyphenated). Designating a tax evasion scheme in which a company is stripped of its assets, its ownership is transferred to a (typically fictitious) third party, and its financial records are deliberately lost or destroyed, rendering it unable to pay or be assessed for any tax for which it is liable. Also: of, relating to, or involved in such a scheme.In quot. 1980¹ humorously as the name of a fictitious company. ΚΠ 1980 Austral. Financial Rev. 11 Jan. 1/1 The tax schemes are jokingly referred to as ‘Bottom of the Harbour Pty Ltd’, by members of the Sydney tax avoidance fraternity, as many of the documents have gone to a watery grave. 1980 Commonw. Austral. Parl. Deb. (Senate Official Hansard) 3 Dec. Let me explain what we mean by ‘bottom of the harbour’ schemes. Companies known as straw companies are set up and stripped of their assets, and the documents and all the relevant material are destroyed in some way or conveniently dumped in Sydney Harbour. 1985 Canberra Times 28 Mar. 8/3 This bill would ensure that retrospective tax was also collected from trustees or companies..who were former owners of bottom-of-the-harbour companies. 1990 Sydney Morning Herald (Nexis) 3 Mar. 9 Profit-stripping from trusts, another form of bottom-of-the-harbour evasion. 2015 Age (Melbourne) (Nexis) 11 Feb. 2 (headline) Modern ‘tax dodge industry’ rivals bottom-of-the-harbour scandal. 2. In phrases: to go to the bottom of the harbour: (of the financial records of a company) to be put somewhere inaccessible; to be (deliberately) lost, concealed, or destroyed. to send (also put, etc.) to the bottom of the harbour: to conceal or destroy the financial records of (a company); to treat (a company's records) in this way. ΚΠ 1982 Commonw. Austral. Parl. Deb. Senate Official Hansard 25 Aug. 889 The books and records of the Keirad company went to the bottom of the harbour. 1983 Commonw. Austral. Parl. Deb. (Senate Official Hansard) 1 June 1116/2 The company had effectively been put to the bottom of the harbour. 1984 Canberra Times 11 Apr. 3/1 The shares in the company are ‘sold’ to fictitious people.., and the company can never meet its $400,000 tax liability—it has been sent to the bottom of the harbour. 1992 Herald Sun (Nexis) 27 Mar. The treasurer..was yesterday accused in parliament of being involved in tax evasion... ‘You knew a lot about it..when you sent your money to the bottom of the harbor,’ Mr Peacock said. 2005 J. Braithwaite Markets in Vice, Markets in Virtue iii. Some 7000 companies were sent to the bottom of the harbour between 1974 and 1981. This is a new entry (OED Third Edition, September 2016; most recently modified version published online December 2021). < n.1980
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