‘We apply intense scrutiny to companies that don’t pay tax’: ATO

The Australian Taxation Office reported the amount of tax paid by large corporate companies was $68.6 billion from the period 2020-2021.

“Our coverage of this population, we estimate we’ve reviewed about 90 per cent of the corporate groups in this report and we focus very strongly on those entities that don’t pay tax and seek to understand the reasons why it is and ensure that it is due to genuine commercial reasons,” Ms Saint told Sky News Business Editor Ross Greenwood.

😂

I have no doubt the ATO is diligent in its oversight. What we must review urgently is how so many companies can earn billions of dollars here yet not be liable for $1 in tax. Our laws are clearly inadequate.

And after that scrutiny, those companies continue to not pay tax, same as it ever was.

Like Scientology ?

Sure you do…

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Almost 800 companies paid no tax in 2020-21, Australian Taxation Office report revealsA total of 32 per cent of Australian public companies paid no tax in 2020-21, according to Australian Taxation Office (ATO) data. But we have to consider the impact of these industrial laws on companies and business. They don’t consider the worker when raking in multimillion $ profits. But every peasant did! Fair?
Source: abcnews - 🏆 5. / 83 Read more »