Australia doesn’t have a spending problem, it has a revenue problem. Over 30% of corporations based in Australia in the last financial year paid NO TAX, while the majority of those that paid tax paid less than 5% tax.
It is obvious to everyone, except our Federal politicians, that Australia has a revenue problem. While on a daily basis the corporate owned media carries on about welfare fraud and the burden carried by the community because 33% of Australians rely on old age, disability, unemployment and single parents benefits to survive. How many Australians know that Murdoch owned News Corporation (which owns over 70% of Australia’s newspapers) received an 886 million dollar tax refund during the 2013/2014 financial year and paid NO TAX during the 2014/2015 financial year, while 21st Century Fox, Murdoch’s other media arm, paid less than 1% tax during the same period?
It seems, in Australia, there is one set of taxation laws for corporations and another set for the rest of the community. Unless Federal politicians, of all political hues, are willing to make corporate taxation revenue their number one priority during 2016, we can expect to be told, ad nauseam, there is not enough money for
SOCIAL SECURITY BENEFITS.
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