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Found this letter looks important martin shkreli taunts congress over drug hearings




A HOUSE politician in the United States says former Turing Pharmaceuticals CEO Martin Shkreli, reviled for hiking the price of a lifesaving drug, has not made any legal arrangements to appear before Congress next week, despite receiving a subpoena.

Rep. Elijah Cummings, D-Maryland, said a lawyer for Shkreli indicated he has not sought permission from a New York judge to travel to Washington for a hearing on drug prices.

Shkreli is charged with securities fraud and conspiracy in a case stemming from one of his previous drug companies. Under the terms of bail in that case, he is required to remain in New York state. However, a judge could grant an exception to travel.

House politicians want to question Shkreli about his decision to hike the price of Daraprim, the only approved drug for a rare and sometimes deadly parasitic infection, by 5,000 per cent. He resigned from Turing last month following his arrest.

Cummings, who has been investigating exorbitant drug prices, said the 32-year-old Shkreli must take steps to appear before the committee.

If he plans on trying to use his own intentional inaction as some kind of bogus excuse for not showing up at Tuesdays hearing, people will see right through such a juvenile tactic, Cummings said in statement.

Shkreli, a relentless self-promoter who often livestreams his daily life, has repeatedly bashed Cummings and other Washington politicians through social media.

Minutes after Cummings statement, he took to Twitter in a message to the politician: Your attempt to subvert my constitutional right to the 5th amendment are disgusting and insulting to all Americans.

A day earlier he posted a photo of the subpoena with the caption, Found this letter. Looks important.

Make the most of property tax deductions




INCOME is liquid gold for property investors, but many do not properly understand the thousands of dollars they can claim back from the taxman through depreciation of household items and building costs.

Four out of five of Australias two million residential property investors are not making the most of annual depreciation deductions, industry experts say.

FIND a great home loan interest rate

There can be hundreds of potential deductions, so what delivers the biggest tax bang for your buck? Three things, says BMT Tax Depreciation CEO Bradley Beer: ducted airconditioners, floating timber floors and solar power systems.

In the first financial year alone, these three items could result in about $3400 in deductions for the owner, he says.

Thousands more dollars can be claimed through other deductions. BMT says hot water systems and bathroom accessories are among the most common, while smaller items such as smoke alarms, garbage bins and exhaust fans also help.

If its an individual asset and not part of a set such as a table and chairs and is worth less than $300 each, its an instant deduction, Beer says.

A depreciation schedule typically costs about $700, and its best to go with a company that sends a quantity surveyor to your property rather than a cheaper online service.

Investors who havent depreciated correctly can back-claim deductions in most circumstances. Its easy to go back two years and adjust previous tax deductions, Beer says.

Muirhead Property Management director Prue Muirhead says many property investors understand that they can depreciate curtains, carpets and lights, but do not understand the big ticket deductions such as the annual 2.5 per cent writedown of building costs of many houses.

Most people believe that the only return you are going to get is the rental return, and forget to add the depreciation, she says.

The building cost deduction, based on a $200,000 structure, can be $5000 a year, and thats before you get to all the fixtures and fittings.

Muirhead says many deprecation companies guarantee that you will get more money back than the fee they charge. You just dont know what youre missing out on unless you look into it, she says.

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