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

Originally Posted by bob10

Curious. Whom, exactly, are you talking to. Or, are you looking in a mirror, Just curious.

It was a quote I got off the internet regarding Packer's comment on tax evasion

Originally Posted by Chenz

It was a quote I got off the internet regarding Packer's comment on tax evasion

Thanks mate, threw me for a minute, Cheers.

Originally Posted by Lotz-A-Landies

Did you wonder why we're doing it tough lately? Zero tax: Data reveals how much tax major Australian corporations pay - ABC News (Australian Broadcasting Corporation)

We wouldn't need a GST if these Bastards paid their fair share, like the people that actually EARN/CREATE the money that these Bastards avoid paying taxes on.
It seems you get the Government you deserve and the big end of town certainly got what they wanted, their Boys in Canberra are certainly keeping their bosses happy, Regards Frank.

Originally Posted by JDNSW

This list is not particularly useful.

Income tax is payable by a company on the amount of profit they make, not their income. The fact that a company has no taxable income in most cases will simply mean that it is not operating at a profit. In some cases this may reflect past losses carried forward. In a few cases it may indicate that they have arranged their affairs so that they do not make a profit in Australia, but I suggest that this applies to very few - and the ATO does chase them up.

If looking for anomalies, it is worth noting that the big miners are among the highest payers of tax, much higher than the big banks, but again, this difference is meaningless, since income before costs has no fixed relation to profit.

Some of the "no taxable income" ones are obvious - Qantas, for example, has been making major losses for a number of years, and has only just climbed into the black. It would be surprising if businesses such as News Ltd were making much, if any, real profit, as they have a lot of expensive units such as newspapers and TV stations that are losing money.

But to repeat - this list provides no information to gauge whether or not a company is paying their fair share of tax.

John

Companies are taxed on profits. What's left after paying all the bills and feeding the mouths of dependants (staff salaries). Not taxed on their income.

Individuals are taxed on their income. Not what's left over after paying all the bills and feeding mouths. Yes some (very few) expenses are allowed as deductions. But a vastly different situation to companies being taxed on profit.

Originally Posted by mikehzz

Don't people realize that the only ones who pay over the top tax in Australia are those on a wage? The tax system is legally rorted by just about everyone else. The wage earners have to pay their tax before they get their money. Think of it as the price you pay for income stability. Anyone not on a wage doesn't know what income they will make next week and that includes big companies. Those not on a wage get to legally move their income around to minimize the tax. Everyone here would do it if they could.

Wrong there,actually,in real terms,almost half the wage earners pay no tax at all,due to government handouts.This issue has been in the media recently as the number of people in this situation is increasing.

I am self employed and we pay a lot of company tax.Sure we minimise it,who wouldn't.

But there is no way we would be able to pay none.

I also pay a lot of land tax,one of the unfairest taxes of all.

The one thing not mentioned here is, how much tax do all the employees of these companies pay.

If the companies are not paying tax they are not making a profit, but are still employing a poo load of people who pay a poo load of tax.

Originally Posted by scarry

Wrong there,actually,in real terms,almost half the wage earners pay no tax at all,due to government handouts.This issue has been in the media recently as the number of people in this situation is increasing.

I am self employed and we pay a lot of company tax.Sure we minimise it,who wouldn't.

But there is no way we would be able to pay none.

I also pay a lot of land tax,one of the unfairest taxes of all.

If you made no profit. You'd pay no tax on your earnings (the entire topic & reports name is deceptive and misleading)

No profit, essentially no "profits" tax..

They still pay Payroll taxs etc.

I keep reading where government says there will not be a change to the tax system if it leaves people worse off. How could it not? And what cohort are they talking about?