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bottom of the harbour

(Australia, attributive) A tax avoidance scheme from the 1970s.

ˈbɑtəm ˈʌv ðə ˈhɑɹbɚ179 viewsLast reviewed Jun 29, 2026+ Add a definition
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Australia
#1·Apr 27, 2026AUS

(Australia, attributive) A tax avoidance scheme from the 1970s.

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.
Origin: From the metaphor of money hidden in an inaccessible place. Also, allegedly, incriminating records were in some cases disposed of by dumping them in Sydney Harbour. Origin information sourced from Wiktionary contributors (CC BY-SA 4.0).
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