MEDIA RELEASE: A simpler, fairer tax system

Multinationals Should Pay 50% If Not Paying Their Fair Share of Tax

Sustainable Australia says the Turnbull Government hasn’t gone in hard enough to prevent multinational companies shifting profits offshore, as announced in last night’s Budget.

Sustainable Australia’s Senate candidate in NSW, William Bourke, says the 40% penalty tax rate on profits shifted offshore is too soft, and Sustainable Australia believes multinationals found avoiding tax should be forced to pay 50% tax so they pay their fair share.

Mr Bourke says the Turnbull government has completely misread the public mood regarding what people want from tax reform.

“Apple is worth $980 billion but Prime Minister Turnbull is cutting company tax. This is a joke when some multinational companies pay such little tax.

“Sustainable Australia is calling for a simpler, fairer tax system under which multinationals like Apple and Google pay their fair share.

“We need tax cuts for workers, not company tax cuts for Big Business.

“The ATO has admitted that there were 98 companies operating in Australia with earnings of over $200 million annually which paid no company tax at all in 2013-14.

“The company tax reform that Australians really want to see is multinationals paying their fair share,” Mr Bourke says.

View Sustainable Australia’s “Simpler Fairer Tax System” Video Here 



Showing 4 reactions

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  • Susan Bowes
    followed this page 2016-05-31 02:20:17 +1000
  • Martin Tye
    commented 2016-05-19 15:11:43 +1000
    Many multinationals have already taken jobs offshore, not because of tax rates but in pursuit of cheaper labour. Australia should not be held to ransom with threats to withdraw services. We must be stronger at the negotiating table. They need us more than we need them. Multinationals must pay their fair share of tax. Anyway, even if they did withdraw- perhaps an Australian company might step in to fill the market void … not such a bad thing?
  • Cheryl
    commented 2016-05-19 14:25:11 +1000
    The multinationals will move off shore taking jobs with them, but I agree there has to be an increase in the tax that they pay, or rather don’t pay.
  • Martin Tye
    commented 2016-05-05 02:40:32 +1000
    The great thing about being a grassroots political movement, is that your people are still in touch with ordinary Australia. You are untainted by big business lobbyists and outdated economic and political ideologies. Sustainable Australia continues to listen to us, the people of Australia, and put our interests first. A simpler & fairer tax system is definitely what we want. It’s time big business paid its fair share. No one but Sustainable Australia is listening. Good luck William Bourke, I hope the people of NSW get behind you!