The Forum > General Discussion > The case of Duncan Storrar.
The case of Duncan Storrar.
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Posted by Loudmouth, Monday, 23 May 2016 5:31:13 PM
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Loudmouth,
Anything to say about the 579 mega-corps who paid no tax last financial year? Like Rupie Murdoch, for instance...don't hear you railing about that. But you seem the kinda guy who gets his jollies putting the boot into someone down at heel coz the rest of the rabble are doing the same. Have fun! Posted by Poirot, Monday, 23 May 2016 6:08:15 PM
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Poirot,
My god, you regurgitate the left whinge propaganda without even thinking. There aren't even 600 mega corporations in Australia. The Large businesses in Australia (>200 employees) number about 2500, of which about 580 paid no tax. Which even for the simplest economist has a valid reason. - These 25% of large companies in these times made little or no profit. For the ignorant, Tax is paid on profit not turnover. Posted by Shadow Minister, Monday, 23 May 2016 9:30:12 PM
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LOL Shadow "These 25% of large companies in these times made little or no profit." Nah, all the profits were made by head office situated in the Caymen Islands, was Malcolm on the board? Maybe the unsuccessful 'Shadow Minister Ice Cream Stand' with one employee (Shadow), would view his competitor the very successful 'Paulie Ice Cream Stand' with two employees (Paul's got his Misses on the job) as a Mega Company. What do you think?
What constitutes a mega company anyway, just as you claimed Mount Gambiar was a "city", what constitutes a city. http://www.abc.net.au/news/2015-12-17/almost-600-companies-did-not-pay-tax-in-2013-14/7036324 Posted by Paul1405, Tuesday, 24 May 2016 7:21:21 AM
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SM,
"My god, you regurgitate the right whinge propaganda without even thinking...." "Australian boardrooms are braced for the release of tax data on Thursday morning that will name 579 of the country's largest corporations that paid no tax in 2014. The Tax Transparency report to be released by the Tax Office shows that 38 per cent of the 1539 large public and foreign companies operating in Australia paid no tax last year, second commissioner Jeremy Hirschhorn told The Australian Financial Review." http://www.afr.com/news/policy/tax-office-to-name-579-companies-that-paid-no-tax-20151216-glp3vc#ixzz49W96jFIF So let me amend that to 579 of Australia's largest corporations paid no tax. "Of the 579 companies that paid no tax in the transparency report, 8 per cent used prior-year losses and 7 per cent used franking credits, R&D and other offsets to wipe out their tax bill. Foreign-owned companies were more likely not to have paid tax if they worked in banking and finance, where 45 per cent of foreign companies paid no tax, compared with 19 per cent of Australian public companies. In insurance and superannuation the no-tax figures were 39 per cent for foreign companies, against 18 per cent for Australian corporates. In contrast 52 per cent of Australian manufacturing companies paid no tax, against 32 per cent of foreign owned companies. Companies may struggle to explain how the ATO numbers differ from their own reported tax payments, and the quite different measures of accounting profit and taxable income." Posted by Poirot, Tuesday, 24 May 2016 7:45:45 AM
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Paul,
If you kept quiet, I might suspect that you are ignorant but when you post I know it. From your link: "The ATO said no tax paid did not necessarily mean companies had been engaged in tax avoidance. Some of those companies incurred tax losses, while others used prior financial year losses or offsets to minimise their tax payment." Which essentially means that they have done nothing wrong or even unethical and that the whole topic is a baseless beat up. As for the definition mega, perhaps you should ask your mate Poirot as she redefined the large companies as Mega companies which I disagreed with. As for Mt Gambier (unlike you I can spell), I referred to it as city, because it refer to itself as a city, and if you have better definition perhaps you should take it up with them and try not to be a douche bag on the thread. And Parrot, Nothing you have linked to has indicated that any of these companies have done anything illegal or even unethical. Even the Labor mouthpiece the ABC has said so, with the only person acting unethically is David Feeney. Posted by Shadow Minister, Tuesday, 24 May 2016 11:13:52 AM
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One day, the OppLeft will realise that (no, what am I saying ?) dead-beats and ex-crims are not the salt of the Earth, Stakhanovites yearning to serve the people, but totally unreliable as pawns. They may know how to pitch a good yarn but all-up, they think of only themselves and absolutely nobody else. And they can see a sucker coming, especially those who think they are so far above the hoi-polloi like the OppLeft. Did you know that Duncan owns the West Gate Bridge and would be happy to sell it on to you, cheap ?
Joe