More than 1,000 large companies paid no tax in Australia, ATO reveals

12 days ago by 𝙈𝙞𝙖 to c/australia

Almost 30 per cent of large companies paid no tax in 2024–25, an Australian Taxation Office report reveals, resulting in the corporate tax amount payable dropping by $8.2 billion from the previous year.

Obituarykidney 5 points 12 days ago

They were supposed to?

I thought it was standard operating procedure for our politicians to kiss the ring and say "thank you for stimulating the economy" to the billionaires after removing protections for another koala habitat to turn it into a coal mine.

(Literally let them develop over a koala habitat this year, and recently approved one of the largest coal mine developments in aus like last week)

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KaChilde 4 points 12 days ago

You’re the ATO. What are you going to do about this? Oh, you’re just going to post the report and ‘monitor’ the billions in tax fraud?

"'It's important to remember that a nil tax result doesn't automatically imply wrongdoing,"

Like FUCK it does. I earn less than 1% what some of these companies make in a year, but I pay infinitely more tax than them. And you claim that there’s no wrongdoing going on?

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phant 2 points 11 days ago

I'm not saying this is fair, or accounts for the full amount. But there are things like R&D tax kickbacks companies can get, which are designed to incentivise companies to do R&D in Australia. There are probably other kickback incentives. Now, do I think these companies could (or should be able to) legitimately tally up these kickbacks to net a nil tax bill - no, probably not. But I'm not even close to an expert

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