Update- Company Tax
In Clint Eastwood's 1966 film The Good, the Bad and the Ugly the bad does not even come close when a company can earn up to $15 billion in revenue and not pay a single dollar in tax.
The business of business it to make a profit first and foremost because if the business does not make a profit then it is of no benefit to shareholders, no benefit to employees, no benefit to consumers and no benefit to the economy.
Paying tax is good because it means that you are making money.
However if paying no tax is systemic and not a one of event then our taxation system is in disarray when companies earning billions of dollars in revenue can continue to sell goods and services year after year and pay zero dollars in tax.
Great to see the Australian Taxation Office publish these numbers so that the Boards of these large companies can be held to account.
At Newealth we are always looking to support and promote our clients wherever possible and if you have any ideas or comments, please feel free to email me via Contact Us or to call me on +61 2 9267 2322.
18th-December-2015 | 
