The old saying “only poor people pay tax” is true.
579 major companies earn over $100 million dollars AUD a year don’t pay any tax in Australia.
One of these companies, picked because it was near the top of the list and at random, is Australian Pharmaceutical Industries. This ASX listed company owns Soul Pattinson Chemist, Priceline Pharmacies and supplies a large list of products to independent pharmacies. API makes over $3.3 billion dollars a year.
$3.3 billion a year and pays no tax.
I was going to write about corporate governance, debt, change in market conditions, trading while insolvent and a few other ways that a company could trade this much money and not make a profit but you know it would be a cover up for corporate bastardry. The truth is its all bull shit, weasel words and spin doctors. These companies, not just API, all 579 of them, don’t pay tax because they have found a way to avoid it.
The simple fact is its stealing from the people of Australia.
In allowing this to happen, the Australian government is complicit in the theft. Both the LNP and Labor have allowed these companies to steal from the rest of Australia for a very long time.
List of the 579 large companies
With a tax rate of 29%, how many teachers, nurses and police could our government hire if they actually had some balls to close the loop holes and collect the money?
The questions our government needs to ask is “if we taxed the big corporates properly, would we have to increase the taxes on the poorest of Australians in the form of GST and income tax?”
I’m calling on our government to tax the big end of town before you tax Mrs Myrtle at number 42.
Auntie Angie is sick of your shit.