northwest ATO names Large Companies that paid ZERO TAX in 2014-15
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Huego
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« on: Tuesday December 13 2016 14:44:17 AEDT PM »

                        Aust Tax Office names 670 large companies that
                      paid zero tax in 2014-15, but suggests considering the following points (before condemning them I guess):

                      • The data contains the total income, taxable income and tax payable of more than 1,900 public, private and foreign-owned entities for the 2014-15 income year.

                      • It includes public and foreign-owned companies that have a total income of $100 million or more, and private entities with a total income of $200 million or more.

                      • Cells containing a dash (-) represent "an amount of zero or less".

                      • The report only contains individual companies, not groups of companies

                      • Some of the companies reported here as paying no tax had related entities that did pay tax.

                      • The ATO notes that "no tax paid does not necessarily mean tax avoidance", as "the aggregate figures listed cannot and do not reflect the complexity of the tax system".

                      None the less, many earn BILLIONS each year but manage to write of profits so to avoid paying tax that others then have to pay.

                      link:  http://www.abc.net.au/news/2016-12-09/tax-data-transparency-ato/8106178
                      [/list][/list][/list][/list][/list][/list][/list][/list][/list][/list][/list]
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                      Views expressed are without prejudice, moderation, in the public / consumer interest & their "right to know"! Huego reserves his right to: think freely & speculate, make & correct his mistakes, change his mind, expose fools & denigrators if/as required. Fighting greed & injustice with facts
                      Doug
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                      « Reply #1 on: Tuesday December 13 2016 15:02:08 AEDT PM »

                        
                                            Aust Tax Office names 670 large companies that paid zero tax in 2014-15, but suggests considering the following points:

                                          • The data contains the total income, taxable income and tax payable of more than 1,900 public, private and foreign-owned entities for the 2014-15 income year.
                                          • It includes public and foreign-owned companies that have a total income of $100 million or more, and private entities with a total income of $200 million or more.
                                          • Cells containing a dash (-) represent "an amount of zero or less".
                                          • The report only contains individual companies, not groups of companies
                                          • Some of the companies reported here as paying no tax had related entities that did pay tax.
                                          • The ATO notes that "no tax paid does not necessarily mean tax avoidance", as "the aggregate figures listed cannot and do not reflect the complexity of the tax system".
                                          None the less, many earn BILLIONS each year but manage to write of profits so to avoid paying tax that others then have to pay.

                                            

                                          [/list][/list][/list][/list][/list][/list][/list][/list][/list][/list][/list]

                                          One of course was Codan!
                                          Taxable income $18,625,656
                                          doug smile
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                                          All posts on this forum are the personal views of the author and should  not necessarily be  interpreted as those of Admin The QED contains NO patented or protected IP!!! No fake users on this site! This forum does not depend on  guest posting liars to survive!1/2 wit powerless to login and post! LO
                                          Huego
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                                          « Reply #2 on: Tuesday December 13 2016 15:10:25 AEDT PM »

                                            

                                          One of course was Codan!
                                          Taxable income $18,625,656
                                          doug
                                          smile


                                          Yes indeed, and that $18.6 M was on Taxable Income (after allowed expenses) on a total income of $120 M.

                                          Tax Payable on $18.6Million of Gold Tax?......ZILCH, ZERO & Nada (I wonder if the directors got a bonus for that?)

                                          As some would say ..... "IT DOESN'T SEEM FAIR" .... but what is fair in the business world?
                                          Making a profit for the shareholders, directors & paying them a dividend & bonus always "seems fair" by them.

                                           smile

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                                          Views expressed are without prejudice, moderation, in the public / consumer interest & their "right to know"! Huego reserves his right to: think freely & speculate, make & correct his mistakes, change his mind, expose fools & denigrators if/as required. Fighting greed & injustice with facts
                                          Huego
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                                          « Reply #3 on: Tuesday December 13 2016 15:40:56 AEDT PM »

                                          A few of interest include minerals mining & energy as well as building & auto companies
                                          Registered name followd by total income (most in Billions$) followed by (taxable income, if any)

                                          ANGLOGOLD INVESTMENTS AUSTRALIA PTY LTD      $874,019,667     (45,083,920)
                                          BHP BILLITON ALUMINIUM AUSTRALIA PTY LTD      $4,955,930,348     (495,380,720)
                                          CHEVRON AUSTRALIA HOLDINGS PTY LTD             $3,088,416,159         (-)
                                          EXXONMOBIL AUSTRALIA PTY LTD                        $8,464,272,972         (-)
                                          GENERAL MOTORS AUSTRALIA LTD                        $3,704,748,755        (-)
                                          GLENCORE INVESTMENT HOLDINGS  AUSt. LTD      $7,787,854,928         (-)
                                          HEWLETT PACKARD SOUTH PACIFIC PTY LTD       $3,528,228,816           (-)   
                                          LENDLEASE CORPORATION LIMITED                    $8,794,836,828           (-)
                                          NEWCREST MINING LIMITED                              $3,690,629,404     (2,181,675)
                                          ORIGIN ENERGY LIMITED                                  $12,200,600,757         (-)

                                          (-)  = zero taxable income = NO TAX PAID to ATO on TAXABLE INCOME

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                                          Views expressed are without prejudice, moderation, in the public / consumer interest & their "right to know"! Huego reserves his right to: think freely & speculate, make & correct his mistakes, change his mind, expose fools & denigrators if/as required. Fighting greed & injustice with facts
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                                          « Reply #4 on: Tuesday December 13 2016 21:17:25 AEDT PM »

                                          And this is why pensions are being reduced in 2017, and they continue to screw the last cent out of  the average citizen earning a crappy $50K
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