2024-11-01
The latest ATO figures on tax show that one in three large companies is paying no tax during a cost of living crisis that they are helping to drive, the Greens say.
The latest figures show 1253 large companies out of the 3985 with a turnover of more than $100 million did not pay a single dollar in tax.
“Not only have corporations grossly profited from the cost of living crisis, they are not paying their fair share of tax,” Greens Senator Nick McKim said.
“A system where nurses, teachers and cleaners are paying more tax than some of the country’s biggest corporations is totally cooked.”
“This is totally unacceptable while we have Australians who are struggling to pay their rent and put food on the table.”
“We need corporate super profits taxes now, and we need much harsher laws to stop corporate tax avoidance.”
“Money raised could directly fund cost of living relief like making GP visits free, putting mental and dental health into Medicare and wiping student debt.”