Thread: List of companies in Australia that paid no tax.

I think we all know that companies hire the best advisors to minimize their tax and that's just exploring what's possible under the rules which is normal. I think most people would think companies paying 20-25% of their profits in tax would be reasonable. It would not be reasonable for a company such as Apple to make huge profits in Australia and yet pay nil tax. That just shifts the tax that the company avoided onto other taxpayers.
What people also object to is when politicians allow companies which donate to their party to avoid paying a fair tax and to hide the fact that they're sponging on the rest of us.
Governments have to get a reasonable level of tax in to pay for the many services which the public demands governments provide.
If companies are allowed to get a free ride on the country then governments only have limited options:

Run deficits and accumulate debts which future taxpayers have to fund.
Slash spending which is hard because cutting government services hurts people who react by sacking governments.
Raise taxes such as the current push to raise the GST to 15%.

So, those who defend big companies who avoid paying a fair share are actually saying that governments should borrow more, slash support for those who most need it or raise taxes on all of us.
Which option do you favour?

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It would be interesting to see how many names on that list, treat their contractors and employees with the same contempt, as they do their moral tax obligation.

Originally Posted by DiscoMick

It would not be reasonable for a company such as Apple to make huge profits in Australia and yet pay nil tax.

Apple has paid virtually no tax in any country it operates in.

Apple Operations International (AOI) receives ~30% of Apple profits world wide. It has no employees nor even a physical presence in any country. Hence pays no tax to any nation.

Apple Sales International (ASI) is the repository for all of Apple's offshore intellectual property rights. Like AOI, ASI has no employees, has no physical presence so claims to be a tax resident of nowhere. Hence pays no tax to any nation.

Apple's own financial statements show it pays less than 0.1% tax on profits globally.

I don't blame Apple but I do blame governments.

Business Insider:- Apple Avoids Paying $17 Million In Taxes Every Day Through A Tax Avoidance Scheme

Originally Posted by Ferret

I'll let the wife know your working your arse off to keep the joint running. In return she might come up with some ideas to assist.

Anything anyone can value add is on the cards from my perspective..

PM me - intrigued who your wife is

Originally Posted by Ausfree

I couldn't find ... Cannon there though, unless they trade under a different name in Australia.

Yeah, they do - "Canon" !

Cheers, & have a great Christmas & New Year.

Lionel

Merry Christmas and a Happy and Prosperous New Year to all, Regards Frank.

Yes and let's all wish for our country to get the gift of a revised and fairer tax regime in 2016 in which all companies pay modest but fair taxes to repay the country for the privilege of being allowed the opportunity to do business and make profits in our country.

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Originally Posted by DiscoMick

Yes and let's all wish for our country to get the gift of a revised and fairer tax regime in 2016 in which all companies pay modest but fair taxes to repay the country for the privilege of being allowed the opportunity to do business and make profits in our country.

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Yes "ALL" companies,....big & SMALL,......EVERY COMPANY,......and I'm with you.
Pickles.