The toxic chemical blaze which started in a West Footscray factory, in Melbourne's west, on August 30, and took firefighters 17 hours to bring under control, has provoked such widespread anger that the state government has been forced to intervene.
Australian Taxation Office
Their accountants and lawyers have done their annual magic. They have massaged the numbers, whisked away a gazillion or more dollars to the Cayman Islands, or some other tax haven and — oh, what a miracle — they have managed to reduce their taxable income to zero (or better still, into the offset bliss of notional “losses”).
And all this while they sit by the pool, sipping only-the-best champers.
What a life — for some.
Major corporations and multinational companies are dodging up to $3.5 billion in company tax every year, according to new figures released by the Australian Taxation Office (ATO) on October 11. After audit checks by the ATO, this figure could be reduced to $2.5 billion.