It showed more than one third of large and foreign companies are not paying a cent of company tax.
The Australian Tax Office (ATO) has listed Foxtel, News Australia and Dentsu Aegis Network as non-payers of local corporate income tax, as part of its 2015-16 corporate tax transparency report, released yesterday.
The big four banks were the nation's biggest taxpayers.
Among the companies that have previously come under scrutiny for the amount of tax they pay locally is Microsoft, which paid $42.3 million in tax from taxable income of $141 million and total income of $776.5 million.
Despite that, BHP paid $1.3 billion on $26.7 billion in income, Rio Tinto paid $1 billion on $27.8 billion in income, Fortescue Metals Group paid $393 million on $8.9 million in income and Hancock Prospecting paid $225 million on $1.9 billion.
Exxon said it had no taxable income as it has invested almost $18 billion during the past few years on major projects including Gorgon and the Kipper Tuna Turrum field.
The report confirmed a slight increase in the number of firms who managed to avoid troubling the tax man.
Samsung Electronics, by comparison, reported total income of $2.5 billion and a taxable income of $12 million, paying $3.6 million in tax.
A probe by the Senate into corporate tax avoidance that began in 2014 was extended this week and is due to issue a final report by the end of May 2018. Both companies paid the 30 percent tax required in Australia.
Datacom Australia Holdings reported taxable income of $11.4 million off the back of $432 million, and paid just over $2.4 million. "Even companies with very high total income sometimes make losses. there are many legitimate reasons why this might be the case".
Deputy Commissioner Jeremy Hirschhorn said that 2015-16 saw a significant drop in profitability of energy and resources companies, a sector where company profits are highly dependent on commodity prices.
Lost Sphear has its full release in a little over a month, coming to Switch, PS4 and PC via Steam on January 23, 2018. Moreover, it will feature all-new Vulcosuit armor mechs and Special Paradigm Drive attacks unique to each character.
Viavi Solutions Inc . (NASDAQ:VIAV) share price swings at $8.89 with percentage change of -0.45% in most recent trading session. Piedmont Investment Advisors LLC acquired a new stake in Viavi Solutions during the first quarter worth approximately $148,000.
Feltman met North Korean foreign minister Ri Yong Ho on Thursday, North Korea's official KCNA news agency said. The United States stations 28,500 troops in the South, a legacy of the 1950-53 Korean War.
Visionary Asset Management Inc. purchased a new stake in shares of Cenovus Energy during the third quarter worth $202,000. Neuberger Berman Group LLC purchased a new stake in shares of Cenovus Energy during the third quarter worth $14,718,000.
Anyone with information on the whereabouts of Meadows should contact KSP Post 1 at 270-856-3721 or anonymously at 800-222-5555. Kentucky State Police have arrested a Murray man in connection with a sexual assault investigation in Tennessee.
A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend.
Pollard is just one kickoff return touchdown away from tying the NCAA single-season mark set by Ashlan Davis of Tulsa in 2004. Three Tigers were named to the 128th edition of the Walter Camp All-America team, announced Thursday night.
Currently, 176.5 million total shares are owned by the public and among those 174.83 million shares have been available to trade. It improved, as 42 investors sold GLW shares while 336 reduced holdings. 112 funds opened positions while 620 raised stakes.
The firm bought 46,000 shares of the information technology services provider's stock, valued at approximately $584,000. The ROIC Quality of Helios and Matheson Analytics Inc . (NASDAQ: HMNY ) has the Market Capitalization of 88.39 Million.
The fund owned 25,360 shares of the mining company's stock after buying an additional 308 shares during the period. The stock was trading at a distance of -33.19% from its 52-week highs and stands 2.87% away from its 52-week lows.
Elf on the Shelf undergoes 'surgery' after dog attack
Since elf rules state that sam can not be touched, the team secured a pair of special operating gloves directly from Santa. Aubrie's elf was discharged later that evening and put up on a shelf far away from the family's German Shephard.
East Midlands Weather: Cold with snow
Some of our models are hinting at a final push of moisture that swings through overnight Friday into Saturday morning. Northwesterly winds between 10-15 miles per hour will create wind chills in the teens through the afternoon.
Tag: Sea of Thieves
With the long-awaited swash-buckling sea-roaming treasure-hunting title is set to make its debut for Xbox One and Windows 10 . This DLC pack contains specially designs items and clothes and a chance to gain early access to the game via a closed beta.
HSV Chevrolet Silverado coming in April 2018
Pricing and exact specification will be confirmed closer to the new range going on sale in Australia. There are now nearly 60 HSV dealers across Australia and seven in New Zealand.
Broadway's Hamilton Will Welcome a New Title Player
However, it is Jamael Westman , who has newly graduated from RADA, that has the title role in the West End production. The Daily Mail's Baz Bamigboye said it had been "the best first preview of a musical [he'd] seen since Miss Saigon ".
One dies in WA stabbing and vehicle incident
Four people were hit by a red Skyline on Eucalyptus Boulevard around 4.15pm, with a teen crashing through the front windscreen. Inspector Tony Hill said the fight spilled over into McDonalds, and the auto ploughed into pedestrians about an hour later.