pity large corporations dont pay much tax in this country.
in the last financial year, the ATO reported that 40% of Australias largest corporations didnt pay any tax at all. The remaining 60% of corporations paid on average less than 18%.
The Ebay market alone is in excess of several billion dollars per year. A 10% GST tax is a very substantial amount of revenue for the Government.
By the way, our so called Australian Mining and Energy industry is 83% foreign owned (mainly in the hands of US corporations who control about 55% of this sector). This industry pays very little tax on revenue/profits in this country (and only employs about 3% of Australians which is less than the workforce in the Queensland tourism industry)
Naughty BHP for example is being dragged by the government to the Federal court to recoup lost tax revenue due to a very under handed tax avoidance scheme that BHP has been running out of Singapore.
Apparently BHP (Australia) would on sell resources well below market price to an intermediate set up in Singapore, who would then on sell the resource to the final destination at global market prices. All this, to avoid paying tax in Australia.
And remember, the mining and energy sectors in Australia are subsidised by the Australian Tax payer to the tune of 12 billion dollars per year.
We seem to do things in a very smart way in this country.
