Ad agency Clemenger Group paid the same tax as Google in 2013-14 according to tax office
Advertising agency Clemenger Group paid almost as much tax as Google in the 2013-14 financial year despite having Australian revenues of less than half the internet giant, according to documents released for the first time by the Australian Tax Office.
The list includes tax and revenue details of more than 1,500 leading companies including 35 media and marketing companies, and shows Google as having paid $9.2 million tax on total revenues of $357 million and a taxable income of $90 million during the 2013-2014 financial year.
Clemenger meanwhile paid $8.9 million tax on revenues of $167 million and a taxable income of $35 million.
News Australia Holdings, owner of the News Corp publishing and printing operations, had revenues of $2.8 billion, but paid no tax. News Corp’s investment arm, News Australia Investments, had revenues of $1 billion and a taxable income of $97 million, on which it paid tax of $4.2 million.
Could anyone explain why some companies are showing $0 tax paid?
Some companies may be ‘posting losses’ for the year, but generally it’s a sign of how leaky and badly constructed our tax system is.
Packer was openly saying he paid no tax in the 80’s, it’s hardly new, but no government tidies it up. However the current phenomenal extent of tax avoidance by the big end of town and lack of mining boom may change this…..maybe.
Google is an absolute disgrace and a bad corporate citizen.
A predator on the Australian economy.
They support nothing, they sponsor nothing, they give nothing. It’s all take.
But let’s not forget the real villains in this piece: their anonymous, slimy accountants and lawyers who use chicanery to cheat Australians out of the revenue.
It’s time they were outed, too.
@E
If there’s more out going than incoming then there’s not going to be any profit, so no tax.
What I find interesting is that some companies have a large taxable income, but then pay 0 or much less than 29% tax.
Look at Microsoft and Foxtel, they’re paying almost exactly their 30% in tax. Could they actually be the good guys here??!!
@Not an accountant
Thanks for the explanation, makes sense!