ATO tax data strengthens case for ending unfair tax breaks in Budget: Greens

Data released by the Australian Tax Office today on how much Australia’s richest companies paid in tax strengthens the case for the government to end unfair tax breaks in the upcoming Budget, Greens Treasury spokesperson Adam Bandt has said.

“The amount of tax our richest companies have paid has been made public today thanks to the Greens,” Mr Bandt said.

“Today we have found out that almost 100 of Australia’s richest companies paid absolutely no company tax.”

“Only about a third of these companies actually paid the full company tax rate.”

“With some large companies earning billions of dollars but paying no tax, the Treasurer should be asking if our corporate tax laws are tough enough, not trying to cut the company tax rate.”

“Serious questions need to be asked about why some companies had taxable income in the tens or even hundreds of millions of dollars but paid no tax at all.”

“The first step was to shine a light onto their tax affairs, now we must end the unfair tax breaks that allow the most wealthy Australians to pay less tax.”

“The Greens have a plan to end unfair tax breaks that will bring in billions of dollars of much-needed revenue to fund our schools, hospitals and services.”

Media contact: Adam Pulford, 0429 109 054