Original article by Matthew Cranston, Tom McIlroy
The Australian Financial Review – Page: 7 : 9-Jul-20
A report from the Organisation for Economic Co-operation & Development shows that corporate tax accounted for about 5.5 per cent of Australia’s GDP in 2017. This compares with an average of three per cent across all OECD member nations. The US and the Bahamas are among 15 jurisdictions whose corporate tax rates comprise less than two per cent of GDP. Treasurer Josh Frydenberg contends that Australia’s lower value add tax is a key reason for the nation’s personal and corporate income tax rates being higher than the OECD average.
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, AUSTRALIA. DEPT OF THE TREASURY
Original article by Geoff Chambers
The Australian – Page: 1 & 5 : 25-May-20
The Minerals Council of Australia has urged the federal government to reduce the company tax rate as part of its post-coronavirus economic strategy. MCA CEO Tania Constable says the nation’s corporate tax rate is not internationally competitive, and measures such as tax reform and speeding up project approvals could prompt a new wave of resources projects worth around $100bn. Master Builders Australia has in turn called for a $13.2bn stimulus package for the construction industry. Prime Minister Scott Morrison will deliver an economic recovery speech on 26 May.
MINERALS COUNCIL OF AUSTRALIA, MASTER BUILDERS AUSTRALIA INCORPORATED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET
Original article by Geoff Chambers
The Australian – Page: 2 : 10-Mar-20
A report produced by KPMG on behalf of the Minerals Council of Australia highlights the importance of the mining sector to government revenue. It shows that corporate taxes and royalties have accounted for 39- 49 per cent of the sector’s earnings since 2011-12. MCA CEO Tania Constable says that on average, the minerals sector has paid more than $20bn in taxes and royalties annually over this period. She adds that the sector is helping to finance infrastructure projects and the salaries of public sector workers such as teachers and nurses.
MINERALS COUNCIL OF AUSTRALIA, KPMG AUSTRALIA PTY LTD
Original article by Nick Evans
The Australian – Page: 19 : 24-Feb-20
Alcoa has stated in its latest financial report that its Australian unit has been served with a $212 million tax bill by the Australian Taxation Office. Alcoa has stated that the ATO is of the view that Alcoa of Australia has underpaid tax on the sale of alumina, which it produces in Western Australia. A spokeswoman for Alcoa of Australia has stated that it disputes the ATO’s claim, and it plans to make use of the statutory rights available to it to challenge the ATO’s position.
ALCOA INCORPORATED, ALCOA OF AUSTRALIA LIMITED, AUSTRALIAN TAXATION OFFICE
Original article by David Swan
The Australian – Page: 3 : 19-Dec-19
The Australian Taxation Office’s deputy commissioner Mark Konza has welcomed Google’s decision to settle a long-running tax dispute. The technology company has agreed to pay $481m to resolve the dispute, which centred on tax audits covering the period from 2008 to 2018. A Google spokeswoman has emphasised that the settlement does not constitute an admission of liability. Google’s Australian earnings topped $1bn in 2018, but it paid just $25.6m in tax. Konza says the ATO will pursue at least one other technology company.
GOOGLE INCORPORATED, GOOGLE AUSTRALIA PTY LTD, AUSTRALIAN TAXATION OFFICE, ATLASSIAN CORPORATION PLC, FACEBOOK INCORPORATED
Original article by Tom McIlroy
The Australian Financial Review – Page: 8 : 12-Dec-19
Data from the Australian Taxation Offices shows that the combined tax take from the nation’s 2,200 largest corporate taxpayers was $52.3bn in 2017-18. The data shows that 710 companies did not pay any tax during the financial year, while deputy commissioner Rebecca Saint says 102 companies across all sectors of the economy are "systemic non-payers". She notes that tax receipts from oil and gas companies will increase in coming years, after many booked losses during the construction phase of their projects.
AUSTRALIAN TAXATION OFFICE
Original article by James Thomson, Tony Boyd
The Australian Financial Review – Page: 13 & 27 : 10-Dec-19
Tax cuts and increased spending on infrastructure are among the suggestions from business leaders to help stimulate the Australian economy. Rio Tinto CEO Jean-Sebastien Jacques has urged the federal government to revive its push for corporate tax relief, while Woodside Petroleum CEO Peter Coleman has called for the introduction of an investment allowance to boost business confidence. Meanwhile, Telstra CEO Andy Penn has stressed the importance of innovation to Australia’s future economic growth.
RIO TINTO LIMITED – ASX RIO, WOODSIDE PETROLEUM LIMITED – ASX WPL, TELSTRA CORPORATION LIMITED – ASX TLS, COCA-COLA AMATIL LIMITED – ASX CCL, BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, ENERGYAUSTRALIA PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, SEEK LIMITED – ASX SEK, AUSTRALIA. DEPT OF THE TREASURY
Original article by John Kehoe
The Australian Financial Review – Page: 6 : 6-Dec-19
Australian companies are paying the third-highest share of tax to governments of OECD countries, according to a new tax report from the OECD. It also shows that personal income tax accounts for 40.3 per cent of total government revenue. The report highlights Australia’s heavy reliance on taxes on property, personal income and business profits, and will put pressure on the federal government to undertake major tax reform in order to stimulate the economy.
ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT
Original article by Peter Ker
The Australian Financial Review – Page: 44-45 : 12-Nov-19
BHP’s tax bill in Australia was $US4.72bn ($6.79bn) in 2018-19, compared with $US1.79bn ($2.33bn) two years earlier. BHP contends that when state government royalties on its iron ore and coking coal exports are taken into account, its total economic contribution in Australia was about $US7bn ($10bn) in 2018-19. BHP’s relations with the Australian Taxation Office have improved in recent years, and second commissioner Jeremy Hirschhorn recently praised the resources giant’s annual economic contribution report.
BHP GROUP LIMITED – ASX BHP, AUSTRALIAN TAXATION OFFICE, RIO TINTO LIMITED – ASX RIO, TRANSPARENCY INTERNATIONAL AUSTRALIA
Original article by Max Mason
The Australian Financial Review – Page: 3 : 28-Oct-19
Subscription video-on-demand giant Netflix has revealed that its Australian arm paid a total of $341,793 in tax during calendar 2018, compared with $175,516 in 2017. However, its revenue from local subscribers is estimated to have been between $600m and $1bn in 2018. Netflix’s customers in Australia are billed by Amsterdam-based Netflix International BV, which paid Netflix Australia a $12.1m service fee in 2018; this comprises all the company’s locally recognised revenue