Fix the tax system - Politics Forum.org | PoFo

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By pugsville
#14588993
Many companies are avoiding paying any significant tax, despite billions is sales, and often billions in support from the Australian government.



http://www.theage.com.au/business/comme ... ipm9k.html

"The nine from Big Pharma paid a paltry $85 million in income tax between them last year – despite racking up $8 billion in sales and receiving $3.5 billion in subsidies from the Australian taxpayer."

"Chevron knows this too. Not only did it manage to skive out of paying tax last year altogether, the Australian Tax Office (ATO) even wrote the oil giant a cheque for $5.7 million."
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By Eauz
#14589002
In our present environment, this is fairly close to impossible, since our economies are linked closely with private investment and global competition. Any attempt to raise taxes on corporations either pushes them to divest from the country or seek out ways to not pay taxes, with tax loopholes. As long as we're invested in global economic system and allowing the free market to rule, you're going to have to start paying more out of our salaries. Eventually, it will come to the point where the welfare system along with the income tax.
By pugsville
#14589015
Rubbish almost all the companies involved are generating their money in Australia through sales. Moving that of shore is impossible. All companies doing their business in Australia would be equal, This is not about competitive tax rates, It about tax legislation that does not allow profit shifting and tax avoidance. All it requires is will.
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