Almost 600 major corporations did not pay tax in 2013-14 financial year, Australian Taxation Office says

[Change]

Almost 600 of the largest companies operating in Australia did not pay income tax in the 2013-14 financial year, figures released by the Australian Taxation Office (ATO) show.

More than 1,500 companies with annual incomes of more than $100 million are on the list.

Of those companies, 960 did pay tax, while 579 companies did not pay tax.

The ATO says no tax paid does not necessarily mean companies have been engaged in tax avoidance.

Some of those companies incurred tax losses, while others used prior financial year losses or offsets to minimise their tax payment.

The data shows technology giant Apple had total income of about $6.1 billion, but only $247 million of that was taxable income.

The company's tax payment was the largest of the multinational tech giants at just over $74 million, but that only equates to around 1 per cent of its total income in 2013-14.

Competitor Microsoft paid around $31 million, 5 per cent of its total income of $568 million, while Google paid just $9 million in tax, around 3 per cent of its total income of close to $358 million.

Cleaning company Spotless Group made around $2.2 billion, but paid no tax

Shopping centre and real estate owner Stockland had income in 2013-14 of around $1.3 billion, but also paid no tax.

Other large companies that did not pay tax in the 2013-14 financial year include Qantas, Virgin Australia, General Motors (owner of Holden), Vodafone, ExxonMobil, property developer Lend Lease and media company Ten Network Holdings.

Qantas reported a $2.84 billion loss in that financial year, while the Ten Network lost almost $80 million.

At the other end of the spectrum, mining giant BHP Billiton paid 10 per cent tax on its income of more than $40 billion, while Rio Tinto paid 9 per cent tax on its income of almost $34 billion.

The big four banks are the next big tax payers, with Westpac, ANZ, Commonwealth Bank and NAB paying between 5 and 7 per cent on their earnings.

Commissioner of Taxation Chris Jordan said releasing the data helped build community trust in the taxation system.

"Community trust and confidence in the way these large companies operate matters," Mr Jordan said.

"And tax should matter to these companies. It is not something to be taken lightly.

"Collectively, these 1,500 large corporates paid almost $40 billion in company tax in the 2014 fiscal year."

Mr Jordan said the ATO raises about $2 billion through investigating companies suspected of not paying their fair share of tax.

"Most large corporates, particularly domestic Australian companies, meet their tax obligations, notwithstanding that we do have some significant disputes with some of them," Mr Jordan said.

"Large corporates now have to consider the impact of their tax information as a factor in managing their reputation with the markets, their shareholders, their consumers and in the Australian community."

Figures should not be taken at face value: industry

The ATO and industry groups are urging caution over the use of the data.

"I think it's fair to say that there's a fair bit of wariness in the businesses concerned, and mainly, overwhelmingly in fact, that is due to the risk of the information being misunderstood, misinterpreted, and misused," said Peter Burn, head of policy at the Australian Industry Group.

"Tax is not a simple thing, and you look at the specialist tax lawyers, tax accountants, the degree to which the tax office puts effort into interpretation and explaining its interpretations of the law, that the risk of reputational damage to companies where no reputational damage is warranted."

Mr Burn said some companies have faced circumstances in which they have not had to pay tax.

"Manufacturing companies for example have been doing it pretty tough over the last several years, and many of those wouldn't have made a profit for a while, and they will have had accumulated losses," Mr Burn said.

"In other industries we're similarly affected by the high dollar and the vacillations in the economy, so tourism and the like.

"Mining will be affected in years such as this where prices are very low, so it will vary year-to-year and depending on the circumstances of the companies."

Mr Burn also said some companies may earn more of their income overseas, and therefore pay tax in other countries.

The Federal Opposition has seized upon the list.

"The tax data that's been released today is data the Liberal Party didn't want you to see," Shadow Assistant Treasurer Andrew Leigh said.

"The Liberal Party voted against the tax transparency laws which Labor announced them in 2013 and then when they got into office they tried every excuse to wind them back including suggesting that this would lead to kidnap risk.

"One explanation described by a particular tax expert as the stupidest excuse for non-disclosure he'd ever heard."

http://www.abc.net.au/news/2015-12-17/almost-600-companies-did-not-pay-tax-in-2013-14/7036324

[Strontium Dawg]

Ok, so if I make a net loss on my personal income, ie my bills and expenses amount to more than my income, does that mean I should be entitled to not pay tax also?

[Change]

^^In Australia, apparently so

What a great idea, i swear on the news yesterday they were talking about another giant deficient coming, i wonder why

[Strontium Dawg]

Um, remind me again how many millions in tax were collected in USA recreational cannabis states last year? Add that to the savings of not having to enforce prohibition and incarceration of convicts...that would be a decent chunk of your deficit solved.

[Change]

Colorado collected almost $70 million in marijuana taxes during that time, nearly double the $42 million collected from alcohol taxes.

http://time.com/4037604/colorado-marijuana-tax-revenue/

[Sallubrious]

That's why they have to crack down on welfare. People getting a handful of beans each year are being put in jail for trivial shit and corporations are getting away with murder.

[courage]

The system we operate under is so corrupt. It took me the good part of several years to truly confront the nature of the reality we live in. To say the top echelon are evil would be an understatement, there's no doubt it's a genius setup, but a totally disgusting ordeal nonetheless. The cracks are starting to becoming more prevalent. I could only advise to view such things through the lens of detached compassion, which is hard work, but it's my personal opinion opposition, anger nor human-based changed is the answer, but higher spiritually guided and motivated change is how we can seek and flourish in a new earth and a new reality.

Edited December 17, 2015 by courageoftheweak

[Change]

Corruption is part of human nature,

Calling one part of humanity evil while making out we are the good guys is half the problem

We need to start looking at each others are equals rather then creating boundaries that separates us into good people and evil people

The people in positions of power are no different from you and i, they want happiness, love, and safety for their families, and like all human, we always want more,

Nothing evil is going on here, its simply greed, and the only reason humans are greedy, is because they want more for there family and start to seeing the rest of the humans are enemies that are in direct competition for the food or money that they want to provide to their family.

If we loved each other as much as we loved our family's this wouldnt be as big of a problem. Its not like these Super rich people are gaining any happiness out of making the poor suffer, they gain there happiness the same way you and i do, by taking good care of there family and doing nice things for them.

Greed, like corruption has always been part of humanity, but its not really evil, its just blokes doing the best they can for there family while ignoring the fact that others may be suffering as a direct results of there actions.

Fixing this problem requires empathy, something that is sadly missing in todays cut throat, dog eat dog world.

[Sallubrious]

I certainly agree that the world needs more empathy and humility for that matter. I could do with a measure of both at times.

I don't know if I agree that there are no evil people though, some of the sociopathic personalities I've met during my travels would be hard to define as anything but evil. Many of those personality types gravitate to positions of power where they can control others.

Sociopaths don't really have the capability for empathy, remorse or humility unless it's faked to get something they want and they don't always look after their families like you or I would - just look at the candyman walking his mrs around on a leashe at parties.

The Rothschild family certainly has a tendency to look after their own and has done so for centuries, but they've also profited immensely from international conflicts where millions of lives have been lost while they sat back and raked the cash in.

But you're right - it all comes down to greed and empathy. Some people will stoop to anything to get what they want and it never seems to be enough, so they must be miserable people trying to fill a need of some sort. Most times they are incapable of empathy so having empathy for them just makes you vulnerable unless you are awake to their game.

I don't know if the Rothschilds really set a place the dinner table for satan or if it's all conjecture, but they have strange taste in jewellery.

[Strontium Dawg]

Death is the great equaliser.

It doesn't care how much money you made or how much tax you paid.

We're all dust. I actually take some comfort in that justice.

[courage]

I agree with the sentiment change, which is why I try my best to operate from a place of detached compassion. When you feel you truly know something within yourself, a gnosis perse, and have this validated through supranormal or experiential experiences, it is not really something that can be transferred through language to another. I do feel I've reached a place of acceptance which has allowed a growing "universal" type of love to flourish, however when you do believe such global elite do have a place for satan at their dinner tables, and have the competency and audacity to conduct and stimulate world wars (just for starters) for their own enthralment, power and control, compassion and love can be a very hard thing to access. Truly recognising this, or perhaps believing is a more suited term here, can send one into a pretty intense tailspin of misery and anger. One only needs to look at the atrocities of the nazis, and what the foundation of our own (genocide) and most other nations are built upon to start feeling sick. That's not even getting started on the possibility of this being one big organised and manipulated grand scheme. We are entitled to our own beliefs, and that is never something which should be forced on another (I speak for myself), I'm just giving you an idea at where I'm coming from. But yes, I wholeheartedly agree, if through reconnecting with source and recovering our true nature results in enlightened change then how can anyone be blamed? (If that makes sense) None of us are perfect either just as you have pointed out, and thus part of all this processing of course means forgiving ourselves too. Each and everyone of us deserve this no matter what, and this is the place I access what I can only term detached compassion, as the atrocities do and will continue - however being important to remember they are no longer acceptable. And again in my opinion, thank god, they will not continue for much longer.

Edited December 18, 2015 by courageoftheweak