1 in 3 companies pay no tax while actively driving down wages & making jobs more insecure
Roughly one in three companies, including household names like Shell, IBM and Goldman Sachs pay no tax in Australia, despite hundreds of millions, sometimes billions of dollars in income, according to data released by the ATO this week.
Some of these companies are paying no tax while they are also setting up wholly owned subsidiary labour hire companies to outsource their staff and undercut wages.
The ACTU says it is unacceptable that massive corporation not only pay no tax but are then also trying to exploit workers in Australia, with the support of the Morrison government.
“Instead Scott Morrison continues to allow massive companies like Shell, Atlassian and MYOB to pay zero tax and for the average tax rate for large companies to be only 23.8 per cent. “The Morrison Government wants to de-register unions for submitting paperwork late, but when a company simply pays zero tax, the government waves them through.”Sally McManus ACTU Secretary
Instead of cracking down on corporations who under cut wages and make no tax contributions the Morrison Government has attempted to pass extreme union-busting legislation which would have shut down entire unions for submitting paperwork late and make it harder to win pay rises.
The news that $13 Billion in corporate taxes have not been collected comes as volunteer firefighters in NSW are crowdfunding so that they can buy the correct masks for their crews.
ACTU Secretary Sally McManus ““Under the Morrison Government there is one rule for the big corporates and another for the rest of us.”
In Australia Most workers’ pay a higher tax rate than the largest corporations. Many of these companies are actively engaged in driving down wages and making jobs more insecure, to pay no tax at all.
“If companies had actually paid the 30 per cent tax rate they are supposed to pay then Australia could have increased NDIS funding by 50 per cent, raised Newstart recipients out of poverty, employed thousands more staff in our aged care sector, properly funded our fire services or any combination of good projects that the extra $13 BILLION would have funded.” Commented McManus
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