Facebook’s Australian revenue went from $33.6 million in 2015 to $326.9 million last year after the government’s Multinational Anti-Avoidance Law came into effect in January 2016. The social media giant stated in its 2016 results filing to the Australian Securities and Investments Commission that a restructure of its operations had […]
Internet conglomerate Google has more than doubled its Australian revenue and profit, resulting in a doubling of its local tax bill, after the so-called ‘Google Tax’ was brought in January last year. The financial results for Google Australia, filed on Friday, show revenue of $1.141 billion for the calendar year […]
Apple Australia’s net profit for its financial year to September 24, 2016, fell by a massive 97%, largely due to a tax “adjustment” for previous years. The financial report, published on Friday, shows Apple Australia made just $3.67 million net profit for last year, compared to $123 million in 2015. […]
The 2016 federal budget confirms the government is throwing more resources at its crusade to get multinationals paying “their fair share” of tax on income earned in Australia. The Australian Tax Office (ATO) is getting $679 million over four years to fund a 1,300 person taskforce to ensure multinationals, private […]
Task force launched.