One-third of big businesses in Australia still don’t pay any tax five years into ATO crackdown
by Ben Butler from on (#5SVYJ)
Some 782 out of 2,370 large companies paid no tax in 2019-20, mostly because they made a loss or claimed credits for previous losses
One-third of large companies in Australia still don't pay any tax despite a taxation office crackdown on the big end of town that has been under way for five years.
Transparency data released by the Australian Taxation Office on Friday shows 782 out of 2,370 of Australia's biggest companies paid no tax in the 2019-20 financial year, mostly because they made a loss or claimed credits against losses run-up in previous years.
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