News

Teys Australia Pays No Tax

Of the 732 Australian businesses who paid no tax last year in Australia, Teys Australia was up there with the worst of them.

With an income of well over $2.4 Billion, it seems inconceivable that Teys paid no tax in Australia.

To put it in perspective, another Australian meat processor, Thomas Foods International, with an income of $1.4 Billion ended up paying just under $16 Million tax in Australia.

How can it be that our tax system allows free loading scum not to pay their fair share of tax for the resources and infrastructure they utilise you may ask?

In simplest terms its because businesses in Australia are taxed on profits.

Through crafty accounting and shifting profits offshore to low or no-taxing countries businesses are able to dodge paying tax in Australia.

Just imagine if working people were taxed only on profits. Once you take out rent/mortgage payments, school fees, child care, the family car, you could have a tax bill of $0 too!

Our tax system is clearly in dire need of reform, tax minimisation of big businesses in this country is out of control.

Check out the data released by the ATO and see if your employer pays their fair share!

http://www.abc.net.au/news/2017-12-07/corporate-tax-data-released-by-ato/9236878