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Tax Avoidance Taskforce claims another win

The Tax Avoidance Taskforce is continuing to make strides following the settlement of a multimillion-dollar dispute, according to the ATO. The ATO has reiterated its support of the Tax Avoidance Taskf ....

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ATO reveals the IT giants that paid zero tax last year

By
Justin Hendry
on Dec 11, 2020 12:30PM
Annual transparency report released.
Some of the world’s largest IT companies avoided paying any Australian tax last year, while a number of others paid their largest tax bill in years, according to new tax data.
The Australian Taxation Office on Thursday published its sixth annual corporate tax transparency report, which discloses the 2018-19 tax bills of the largest companies operating in the country.
It covers 2311 Australian public and foreign-owned companies with incomes of $100 million or more and Australian-owned resident private companies with an income of more than $200 million.
The report shows that 741 of these companies paid no tax in Australia in 2018, including four IT companies that generated a taxable income – marking an improvement of previous years. ....

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ATO Corporate tax report shows Apple, Google, Facebook paid record company tax

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Tech giants Apple, Facebook and Google paid a record $216 million in company tax after raising more than $11 billion in revenue from their Australian customers, new figures show, but the federal budget remains hostage to the profits and taxes of a handful of companies.
The Australian Tax Office s annual corporate tax transparency report showed Apple paid $149.3 million in tax in 2018-19, a 23.6 per cent lift on the preceding year.
Apple and fellow tech giants Facebook and Google paid a record amount of tax in 2018-19, but still well short of miners, banks and supermarkets.
Credit:AP
Apple s tax was on $498 million in taxable income while the company declared $9.6 billion in total revenue through the year. The taxable income amounts to 5 per cent of its total revenue. ....

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One in five big Australian companies didn't pay tax last year, the ATO has revealed

One in five big Australian companies didn't pay tax last year, the ATO has revealed
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