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The giant foreign corporations who extract the most from Australian soils and seabeds have once again paid the least in tax, dollar for dollar. Michael West reports on the fifth year of transparency data from the Australian Tax Office.
Five people died at a children’s hospital in Scotland built by Brookfield, billions have been stripped offshore in Australian assets, yet Treasurer Josh Frydenberg has approved the sale of the nursing home and retirement village business Aveo.
“Outlaw these indulgent and selfish practices that threaten the livelihood of fellow Australians,” declared Scott Morrison last week as the protests raged outside a Melbourne mining conference. Tax avoidance, Lendlease.
Whether it is misleading the Parliament of Australia, cutting its workers’ wages, paying zero tax while racking up $33 billion in income, sending gas prices into the stratosphere or dudding the poor people of Papua New Guinea, Exxon has flair.
Virgin founder Richard Branson actually resides in a tax haven. He even has his own tropical island, Necker Island, in the notorious tax secrecy archipelago, the British Virgin Islands.
Quad Erat Demonstrandum
