How to Pay NO TAX: Become a Big Company in Australia
Channel: Daily Insight
Date: 2019-12-14

The latest corporate tax transparency data released by the Australian Taxation Office this week shows that around one-third of large companies operating in Australia did not pay a single cent of tax in the 2017-18 financial year. A total of $52.3 billion was collected in corporate tax, an increase of $6.6 billion from the previous year. This increase was primarily driven by the increase in commodity prices, which were up 15% in Australian dollar terms over 2017–18. Of the 710 companies that didn’t pay any tax, here are some of the biggest non-contributors: Car companies (Mitsubishi Motors, Ford Motor Company, and General Motors Holden). The biggest seller of cars in Australia who didn’t pay a single cent of tax: Toyota Motor Corporation – $10.5 billion in income. I don’t know how they do it. How can they be the most successful car company in Australia, but yet pay zero tax? I suppose they have a team of accountants and lawyers who know exactly how to work the system to avoid paying tax altogether.

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Fortress Europe by Dan Bodan (https://www.youtube.com/user/danbodan)

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