"Is it ok for 70 of the biggest companies trading here to pay zero tax"

Hell no.

But ScoMo just has to take out his pen and change the rules.

"From now on you can still claim whatever deductions you want, but a minimum of 5% tax must be made payable to the ATO.
To multinationals, please understand that this is the cost of doing business in Australia.
If you don't like it don't do business here."

Signed Knob Jockey.

There, just fixed your problem and made the country who knows how many billions...

Next...

http://www.abc.net.au/news/2019-04-26/should-the-rba-deploy-helicopters-for-a-money-drop-on-australia/11048102
Others are looking for newdirections,AC it is not simple for scomo to,just change the rules
Stranglely enought all over the world deals are done, to bring industry and jobs, that in fact enforce a basic unfairness
Another link will appear in my next post, it is not Labor policy, jut a view of what may happen, let us attack the idea or support it on its stand alone likelihood to work or not work

http://www.smh.com.au/federal-election-2019/could-bill-shorten-be-the-saviour-of-capitalism-20190426-p51hny.html
I am not posting this as propaganda, but on its merits
Yes informed contributors will know Rudd did something like this with his gifted money
Some still hate him for it, some will never understand it and how it kept us out of recession
But we are headed, believe me we are, for an international financial crash
I truly think that may, after it is over, bring about a new Capitalism
In the end, both links and Rudds , see most of the cash end up in the hands of the very people who pay no tax!
That must change or the world economy is only serfs in the service of the very rich and very powerful

If I work and earn $100 after tax and I give that money to you, why should the government get a cut?
Armchair Critic,
That's an emotional rather than a rational point. I agree that Government should not get the money but I agree that money i.e. tax should be paid to help deliver essential community services.
I have said many times here that the public service is grossly overpaid & it definitely is NOT value for money !
After all, we all want a sound economy but we can't have that without input from EVERYBODY including foreign investors & business operating under our flag.
Tax is an extremely vital component. Without tax there would not be any services. Where the problem lis is in the distribution. There's simply too much rorting from the top down. That is what we should be focussing on. Everything else will fall into place.

individual,

When I wrote that "Capitalism seems the only system that works" I was quoting Belly. (I'd have thought those "" might have been a give-away, but alas). The point was that if it is the only system that works it seems dumb to want to change it.

Sorry that went over your head. Perhaps I should include monosyllabic translations in future.

__________________________________________________________

I wonder how many of those prognosticating about forcing companies to pay tax realise that tax is paid on taxable profit. No taxable profit means no tax. Comments like " but a minimum of 5% tax must be made payable to the ATO" make zero sense. 5% of what?

Its all just whining by those for whom all this goes way over their head.

eg "If I work and earn $100 after tax and I give that money to you, why should the government get a cut?"

They don't get a cut. Honestly. The blind leading the blind

mhaze do you think we do not know tax is paid on profit not total turn over
Too that that figure can be and is being manipulated to avoid tax?
Quaint way to prop up your own views
Try reading the links, try getting past the Shorten to the rescue and read that whole link
It highlights a view, shared even by some super rich, that Capitalism needs renewal
This is not about party politics, it is about the future of the world economy
YES you know my view, capitalism is not perfect BUT it is the best/only system we have got is supported by that well used saying world wide
Who knows? informed posters may yet read and comment on, the links