How to stop corporate tax cheats

Published:

Corporate Tax Banner

Australia's richest man, Anthony Pratt, avoided paying tax on almost $340 million of income.1 Amazon Australia paid pennies on more than $1 billion in revenue.2

Headline after headline shows that while the Government continues to cut funding from the ABC, and underspend on disability services – the wealthiest 0.1% are hiding their true income from the tax office.

But fresh research, funded by hundreds of GetUp members, proves that things can be different.

In a first-ever analysis of the recent Multinational Anti-Avoidance Legislation, a team of independent researchers found an increase in compliance by some of the country's largest corporations. It's evidence that with sensible, bipartisan reforms – we can win the fight against tax cheats – and stop the dangerous accumulation of corporate wealth that banks and mining companies use to corrupt our democracy.

But research alone doesn't shift the political calculus – we need to show a groundswell of public sentiment. If we can back in this report with tens of thousands of signatures for even stronger anti-avoidance measures, together we have time to put corporate tax cheating in the crosshairs for next year's federal budget.

✍️SIGN HERE: We have all the tools we need to end corporate tax cheating – what we need is the political courage.

Dodgy accounting, bogus corporate structures, and misleading "business purposes" allow the world's largest corporations to shrug off scrutiny and sidestep their obligations. Our research shows how big US companies operating in Australia like Google, Facebook, and Uber have hidden profits in the millions and billions.

But together, our efforts have helped make corporations more transparent. This latest research provides the strongest evidence yet of an increase in the tax payable by these corporations.

The best part? These laws had bipartisan support – in fact, it was the Turnbull Government that acted to crack down on corporate tax avoidance. Even Coalition MPs know just how unpopular corporate tax avoidance is – and that means we have an opportunity for further reform.

The time to act is now. With the federal budget just months away – we need an overwhelming public outcry that forces corporate tax cheating back onto the agenda for the Morrison government. That means we need your voice.

Enough is enough – demand that the government takes urgent action to expand corporate transparency and pass stronger tax reform.

This latest research shows that when we stand together, and act strategically – we win.

GetUp members have a track record of shining a light into our murky tax system and generating insights to create real change. With bright ideas, and an overwhelming public outcry, our movement has forced the Government into real action on corporate tax avoidance before. With your help, we'll do it again.

In determination,

Ed, Rafi, Tessa and Charlie – for the GetUp team

References:
[1] "Company of Anthony Pratt, Australia's richest man, pays virtually no tax", The Guardian, October 29, 2019
[2] "How to pay $20 million tax on more than $1 billion in revenue — ask Amazon Australia", ABC, November 21, 2019
 
Australian Government Business Business & Economy Equality Money & Finance Political Surveys & Your Say
Social:   

GetUp! Australia :
PO Box A105, Sydney South, NSW, 1235, Australia Wide
GetUp! Australia
Showing 10+ recent articles for this business
Murdoch's resignation matters 06 August 2020 | Last week Rupert Murdoch's son – James – dramatically resigned from the board of his father's media empire citing disagreements with editorial content.1 More information...
ABC & the 2020-21 Federal Budget 30 July 2020 | This weekend marks the official start of the bushfire season.1 And with the coronavirus crisis still raging, our ABC needs more resources (not less) to keep us safe, informed and connected. More information...
Eddie Mabo's lawyer vs. Howard's right hand man 28 July 2020 | After blowing up 46,000 year old Aboriginal sites, who does Rio Tinto get to lead their review? The man who helped John Howard undermine our Native Title laws — Michael L'Estrange. More information...
20,000 Queensland jobs 27 July 2020 | The Queensland election is just months away, and with the economy hit hard by the drop in tourism, there's a lot on the line. More information...
Clive Palmer has been charged 24 July 2020 | ASIC has charged Clive Palmer with multiple counts of fraud and misconduct during his bid to enter parliament in 2013.1 But Clive is just the tip of the iceberg. More information...
WATCH: ABC video 19 July 2020 | Local and national reporters worked tirelessly for months as bushfires raged across the country.1 The ABC stepped in to help kids learn during lockdown.2 And then of course came the cuts...staff losing jobs and... More information...
We only have one week to save JobSeeker 16 July 2020 | The Morrison Government could plunge millions of people into deep poverty when they decide the fate of JobSeeker next week. More information...
Facebook vs ABC 14 July 2020 | Facebook is threatening to stop sharing news if it has to pay Australian media outlets - including the ABC - for their work. More information...
Game changer for ABC 05 July 2020 | It's been a huge week for the ABC. The National Party has come out in support of our national broadcaster1 while the ALP has firmly committed to reversing the cuts if they form government.2 More information...
More power in Dutton's hands 01 July 2020 | The courageous government whistleblower known only as Witness K is being prosecuted in a secret closed trial – along with his lawyer!1 More information...


comments powered by Disqus

All articles submitted by third parties or written by My Sunshine Coast come under our Disclaimer / Terms of Service