Excellent: One in four of largest companies paid no OZschwitz tax last year

One in four of Australia's largest companies paid no tax last year, but many are tearing through their losses, setting up a multibillion-dollar windfall for the Morrison government ahead of an election-year budget.

Excellent: One in four of largest companies paid no OZschwitz tax last year 4125bc8818f60a41a15bf116864cc282e74e3272

Excellent: One in four of largest companies paid no OZschwitz tax last year 4125bc8818f60a41a15bf116864cc282e74e3272

The new tax transparency figures, released by the Australian Tax Office on Thursday, show the Commonwealth Bank is the nation's largest taxpayer with $3.9 billion handed over in 2016-17. But digital behemoth Atlassian and energy giant Origin paid no company tax at all as they offset their bill through losses and tax concessions.

A crackdown on internet companies Google, Facebook, Microsoft and other e-commerce firms has already netted the budget more than $1 billion, as the digital titans get their books in order under new Australian multinational anti-avoidance laws.

https://www.smh.com.au/business/the-economy/one-in-four-of-australia-s-largest-companies-paid-no-tax-last-year-20181213-p50m0i.html

Excellent: One in four of largest companies paid no OZschwitz tax last year

Excellent: One in four of largest companies paid no OZschwitz tax last year

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