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 Excellent: OZschwitz's big business 'shirks' fair share of tax load

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RR Phantom

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Excellent: OZschwitz's big business 'shirks' fair share of tax load Vide
PostSubject: Excellent: OZschwitz's big business 'shirks' fair share of tax load   Excellent: OZschwitz's big business 'shirks' fair share of tax load Icon_minitimeSun Sep 28, 2014 6:01 pm
Almost a third of Australia's largest companies are paying less than 10¢ in the dollar in corporate tax, a report that exposes a gaping hole in government revenues over the past decade shows.

As Australia prepares to host world leaders at the G20 summit in Brisbane in November, where a global assault on tax avoidance will be discussed, the report found 84 per cent of Australia's top 200 stockmarket-listed companies pay less than the 30 per cent company tax rate.

Some, among them household names such as James Hardie, do not contribute a dollar to Australian coffers, it found.

Tax minimisation by large companies far outweighs that of small- and medium-sized businesses and has a disproportionately large effect on eroding the tax base.

http://www.smh.com.au/business/the-economy/big-business-shirks-fair-share-of-tax-load-20140928-3gtm2.html
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