Is This Fair?

[Ausfree]

This sort of thing makes me so angry, particularly when another Thread here mentions the increased costs from July 1 of moving into a aged care facilities.:mad:

Glencore paid zero tax in three years | Newcastle Herald (http://www.theherald.com.au/story/2379907/glencore-paid-zero-tax-in-three-years/?cs=305)

[BigJon]

Possibly not, but the only real question is "is this legal?". Fair doesn't come into the real world.

[Ausfree]

Possibly not, but the only real question is "is this legal?". Fair doesn't come into the real world.

I understand that, but I think this situation smacks of fraud. If you or I did something similiar ( on a much smaller scale naturally) the tax office would pursue us for tax evasion.

[discovery39]

Possibly not, but the only real question is "is this legal?". Fair doesn't come into the real world.
No, Fair does come into the real world. Its the bull**** political/corporate world where fair doesn't exist.....

[Gerokent]

How many others are in the same boat? Nearly every other big company probably (think mining tax). If it wasn't for the PAYG tax payers of this country we would be in big trouble. I agree that it is a form of legalized fraud.

[JDNSW]

How many others are in the same boat? Nearly every other big company probably (think mining tax). If it wasn't for the PAYG tax payers of this country we would be in big trouble. I agree that it is a form of legalized fraud.

If their taxable income was almost zero, they would have paid no mining tax, as this is an additional tax on profits.

As for every other big company - think for example BHP - they are the largest mining company in the world, and pay sufficient company tax that their dividends are fully franked.

John

[Ausfree]

If their taxable income was almost zero, they would have paid no mining tax, as this is an additional tax on profits.

As for every other big company - think for example BHP - they are the largest mining company in the world, and pay sufficient company tax that their dividends are fully franked.

John

All very well if you are a "good corporate citizen" but this mob appear to be pursuing "aggressive tax avoidance tactics". I think it was Kerry Packer who said ""anybody who pays more than their fair share of tax is a fool" (or words similiar), which is fair enough, We all look to pay as little tax as possible by legal means. But those who avoid tax by fraudulent means should be vigourously pursued by the tax department.

[ramblingboy42]

It is accepted by our government.

My son , a trainee biomedical technician has just had his tool allowance...TFYT....removed.

He is only in his first year of training and doesn't get a serious income .....govt approved rates......and still needs to purchase specialised tools and equipment.

He has been offered loans up to $20,000 under the new Trade Support Loans Program pending legislation.

[Ausfree]

Mate, I hear you. I really don't want to turn this Thread into an anti-government rant, which is against Forum rules.:)

My point is, ANYBODY who does not pay their fair share of tax should be investigated.:mad:

[Rurover]

Here's another reason to be cynical about the mining industry and its political influence (this time at the state level)...

Mining the age of entitlement | The Australia Institute (http://www.tai.org.au/content/mining-age-entitlement)

And what REALLY annoys me is that certain politicians reckon we taxpayers are paying more for our power because of handouts to help make our energy sources more renewable!!

Bring on renewables I say, especially where they're owned by individuals or local community groups (as is often the case in parts of Europe, UK and USA...and happening in Australia now).
Hopefully "mum and dad" investors won't be "smart" enough or unethical enough to rort the tax system.

Alan

[mikehzz]

If the mega wealthy don't like something, they will bring down the government and change the laws. It just happened. They are usually smart enough to keep everything legal. Fair? No, not fair. A piece of advice, don't stand between rich people and their money. Just pay your extra share of tax to compensate for them not paying theirs and shut up or they will shower you with hell and brimfire.

[Ausfree]

If the mega wealthy don't like something, they will bring down the government and change the laws. It just happened. They are usually smart enough to keep everything legal. Fair? No, not fair. A piece of advice, don't stand between rich people and their money. Just pay your extra share of tax to compensate for them not paying theirs and shut up or they will shower you with hell and brimfire.

Actually if you take that situation to its logical conclusion, that is, the mega rich keep squeezing for extra profits and the middle class become non-existent, nobody can afford to buy anything and the whole system collapses and there is a revolution by the poor and downtrodden.

It has happened before and it could happen again.

[V8Ian]

If the mega wealthy don't like something, they will bring down the government and change the laws. It just happened. They are usually smart enough to keep everything legal. Fair? No, not fair. A piece of advice, don't stand between rich people and their money. Just pay your extra share of tax to compensate for them not paying theirs and shut up or they will shower you with hell and brimfire.

Murdoch order to 'kill Whitlam' (http://news.ninemsn.com.au/national/2014/06/28/10/22/murdoch-order-to-kill-whitlam)

[Ausfree]

Doesn't surprise me Ian.:) The Murdoch press have always been extreme right wing. I read their illustrious journals for a laugh and if you want a real belly laugh, read Piers Akerman's columns.:p