Major Australian firms pay more in political donations than taxes ...News

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Major Australian firms pay more in political donations than taxes
source : Russia Today ( News ) () 40
Some of Australia’s largest corporations paid tax of 10 percent or less of their profit in 2018-2019, but made political contributions that are much more substantial. The corporate tax rate in Australia is 30 percent. However, deductions available to companies reveal a legal loophole allowing companies to pay much less. The country’s corporate giants, including energy enterprise Chevron Australia Holdings and car parks operator Wilson Parking Australia 1992, paid little or no tax in the last financial year despite declaring a profit of AU$900 million (about US$656 million) and AU$2.76 million (about US$2.1 million) respectively, accord

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