Reply With QuoteWith some companies earning billions but having essentially no taxable income the mantra that lowering corporate tax rates will boost employment is shown to be the lie that it is.
Super Moderator
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)
You won't find me on: faceplant; Scipe; Infragam; LumpedIn; ShapCnat or Twitting. I'm just not that interesting.
YarnMaster
SubscriberWith some companies earning billions but having essentially no taxable income the mantra that lowering corporate tax rates will boost employment is shown to be the lie that it is.
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Interersting list alright. Next time some News talking head is bleating on about how business is overtaxed in Australia, just refer to this list and point out that News Australia paid nil tax.
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Super Moderator
Its all about tax loopholes and profit shifting.
You won't find me on: faceplant; Scipe; Infragam; LumpedIn; ShapCnat or Twitting. I'm just not that interesting.
Swaggie
Subscriberholy crap!
i had no idea it was that bad.
im shocked
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Super Moderator
You also noted Foxtel, a News Ltd joint venture with Telstra. (At least the latter paid tax)Originally Posted by DiscoMick
Name ____________________________| Total income ($) | Taxable income ($) | Tax payable ($) | Tax payable as percentage of total income (%)
FOXTEL CABLE TELEVISION PTY LIMITED | _1,973,515,953 | - __________ | - ___________ | -
TELSTRA CORPORATION LTD _________ | 26,091,425,244 | 5,962,883,755 | 1,741,846,820 | ?
You won't find me on: faceplant; Scipe; Infragam; LumpedIn; ShapCnat or Twitting. I'm just not that interesting.
Killer Wabbit!
I think the problem is that the Tax system is overly complicated.
If you are a corporation & you earn $X or less then you pay $Y tax.
If you earn over $X then you pay $Z.
No deductions, no offsets, no matter where the money is now. Net earnings in Australia is taxed as Y or Z no questions asked.
Simples, until the accountants & lawyers look at it anyway.
Jonesfam
SysAdmin (Owner)
so we the people effectively spend more money supporting news corp than we do supporting the abc and sbs
and they still complain...
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Master
That's high level data. The real story will be in the data that sits below the headline figures.
It's entirely possible for a business to have a billion dollar plus income but not have a taxable income.
I wonder how many millions/billions of dollars in tax are being paid by the employees of the businesses listed?
One of my favourite videos. It's relevant from 2:15 onwards.
[ame="https://www.youtube.com/watch?v=-WTfoT_y-BQ"]https://www.youtube.com/watch?v=-WTfoT_y-BQ[/ame]
Master
Holy ****. The company I work for is listed on there as having paid no tax. And we are a big, BIG, multinational. Interestingly, a few of our clients are on there - some paid tax, some didn't.
And everytime I ask the boss for a new piece of equipment to replace something thats broken or not suitable, I get told we are in a spending freeze, and there's no money.
Bastards.
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