Rupert Murdoch’s News Corp in Australia: sales over five years = $13.9 billion, tax over five years = zero. Source: this month’s ATO Transparency data for News Australia Holdings Pty Ltd.
A Tweet from the skilled business journalist Michael West.
Rupert Murdoch’s News Corp in Australia: sales over five years = $13.9 billion, tax over five years = zero. Source: this month’s ATO Transparency data for News Australia Holdings Pty Ltd.
A Tweet from the skilled business journalist Michael West.
Ohh yeah, that’s OK.
It doesn’t matter that just under a third of the large corporations on the list of 2,214 paid no tax, the ATO will claim/claw it all back from the rest of us as those corporations continue ripping of their customers to claim/claw back all of their increased costs.
If the ATO and Mr Jordan had any balls they would do their job, firstly by having any loopholes closed, then by enforcing our laws as they should be enforced.
Do I sound a tad pissed off ??? gosh, sorry about that Mr Chris Jordan…….DO THE JOB YOU ARE PAID LOTS OF MONEY TO DO.
Surely this would be between News Corp and ATO and I would think ATO would know their rights versus the taxpayers more than any outsiders
West has reported the evidence. Everyday taxpayers are right to question how the numbers can be as they are. The ATO can only be as strong as the government of the day funds it to be.
Mark,
This answer is not right ATO has enormous powers and the resources ithas are the Govt income Tax is the Govts whole income and this is what runs the Country. If News Corp is doing something illegal then the ATO would pounce.
Perhaps there are other deductions that are legitimate that benefit te Company and our Countries growth in expansion and employment that hasn’t been disclosed.
As I stated te ATO and News Corp would know what and why it is so and if there was an unfair loophole they would request the Govt. to close it.
The ATO are extremely aggressve and not very fair to small business for some time now as there are no special avantages to encourange investment or savings at the family small business level. Some thoughts on this and what could be done from newsagents would be welcome.
Havent seen the list.How do these companies rate.
Facebook
Apple
Amazon
Netflix
Google
The self appointed bastions of moral and corporate virtue.
What makes it so wrong is that its not illegal
Big is far from beautiful.
Tax minimisation is an art, which News Corp and many other big businesses have mastered. It is appalling that politicians do not have to spine to cut the loopholes and that they do not sufficiently fund regulators like the ATO.