Comment Re: Won't cost them much (Score 2) 53
Honestly the level of local tax dodging strategies in use are off the charts and only worsening Australia's net trade deficit.
Apple: earned billions in Australia in 2023/24 and paid zero income tax here, per the latest ATO transparency data and analysis of the report.
Microsoft: same story as Apple in 2023/24, billions in Australian income and zero income tax.
Netflix: about A$1.2b in Australian revenue in 2023/24 and paid zero company tax.
The âoebig fiveâ US tech firms (Microsoft, Google, Facebook/Meta, Apple, Amazon) together paid only about A$650m of tax on their Australian operations in 2022/23, despite multi-billion local revenues.
Having local media quotas is the bare minimum. Updating the tax rules to exclude strategies like exorbitant charging for IP for trademark and marketing materials from company owned subsidiaries in low tax jurisdictions. It certainly doesn't go far enough.