PPRuNe Forums - View Single Post - War in Australia (any Oz Politics): the Original
Old 1st Apr 2015, 04:48
  #16892 (permalink)  
chuboy
 
Join Date: Sep 2009
Location: BNE, Australia
Posts: 279
Originally Posted by RJM View Post
Don't believe everything you read in the Age:

The Age claims the 900 biggest companies are paying an effective tax rate of 19.3%, “costing” the government $25b in “lost tax” when compared with the 30% corporate tax rate.

What a scandal....but then read on.

Oh, the 900 top companies include loss making companies that do not pay tax, raising the effective tax rate to 21% when they are excluded.
Amazing that a Top 900 company would be loss making. I daresay theres tens or hundreds of millions of tax foregone through crafty transactions taking place between the Cayman Islands, Ireland, et al. IKEA, Google and Apple all freely admit to structuring their finances in this way.

Reform on this is placed in the too hard basket, meanwhile initiatives that save less than the annual tax bill of one multinational while hurting the disadvantaged are touted as the answer to our country's woes
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