the LSR record holder in Australia just found that the Australian Tax Office is reneging on the tax incentive for Research & Development exemption of $180,000 they were already given, and have spent, on the "Aussie Invader 5R" jet car

Automotive

After 2 years the Aussie Tax Office decided they did not qualify for a $450,000 tax exemption they had received, and demanded repayment of the $180k with interest and in 2 weeks. Since that money isn't laying around, they are threatening to seize and liquidate auction the under construction jet car.

The tail fin took 600 hours of machining to make, was recently delivered and is one of the last major parts to be constructed and the local team helping to build the car is anxious to fit it so testing can begin.

The project has taken seven years to get to this stage and has been built entirely from Australian business product donations, and the mums and dads who contributed by joining The 1000 MPH Club.

The engine for the car is a 200,000hp bi-propellant rocket typically used for sending people to the moon and satellites into space.

Bloodhound sent them a consolation letter, which is cool

https://www.facebook.com/AussieInvader/?hc_ref=NEWSFEED
http://www.communitynews.com.au/joondalup-times/news/rosco-mcglashan-to-attempt-land-speed-record-again/

Automotive