Joe Hockey makes announcement to pursue Tax Dodging multi-nationals ..

[x3n0m]

Joe Hockey makes announcement to pursue Tax Dodging multi-nationals hell bent on rorting the Australian economy ..

30 Multi-national Tax rorting multi nationals are in the cross-hairs but he refused to name and shame ..

This is not just an Australian initiative but affects all OECD countries .. also apparently the ATO will also be hunting down GST exploitation/avoidance by these multi nationals which is anti competitive for Australian businesses who do the right thing ..

I personally am all for it and believe not only should the shameless mongrels engaged in these practices be fined at 100% of the avoidance amounts plus be made to repay the avoidance amount they should also be forced to pay all legal costs as we pursue and hunt down these un-named theiving scum ..

perhaps this all goes a long way to explaining the ebay paypal split as one must question why we pay an american company via their swiss bank account ..

[lyndal1838]

Before you sound off about GST/Tax dodging multinationals stop and think about it.    As our tax laws stand at the moment they are doing nothing wrong.

Before they can be "hunted down" our government needs to change the law and wait and see if these companies comply.  Only if they do not comply with the new laws can they be "hunted down".

Whether we or anyone else believes they should be paying tax is immaterial....they are complying with current law.

[clarry100]

Neither of them currently pay GST for the services they render in Australia.

However, if they are forced into it what dya reckon will happen with the fees they charge sellers?

And of course the sellers will pass this increase on to their buyers in the form of GST added on if they are registered for GST.

Or as an item price increase if not.

Then the GST charged will be either claimable as an input tax credit when you do your quarterly BAS if you are registered for GST,

or if you are not, then it will be claimable as a business expense when you complete your annual tax returns.

Either way it will be passed onto the buyers (the end users) which will in turn make ebay an even less attractive place to buy of course.

[clarry100]

Very true Lyndal...

The "hunting down" can only be done to the extent that the company is/is not compliant with current tax laws.

If they are found to be non-compliant then of course bring them into line.

[5kazam]

Agree totally with your last sentence Clarry.

And Lyndal you have succinctly stated the current situation.  

[x3n0m]

However, if they are forced into it what dya reckon will happen with the fees they charge sellers?

I would love to see ebay price themselves out of the market if that is your concern, I have seen ebay and their associate lackies  dismantle a few highly viable Australian enterprise websites whilst the Australian regulator looks the other way .. cough cough.. also Perhaps clarry an Australian competitor will actually be able to complete against the multi national bottom feeders if they were to be made to pay GST and pay tax on their profits in Australia .. to suggest that we allow multi nationals sidestep our tax laws at the expense of Australian businesses so that we can pay lower fees to a multi national exploiter is pathetic .. bring it on .. we owe ebay nothing!!! they have done us no favours whatsoever and have blatantly exploited Australians and tilted the playing field towards their back room multi national and corporate mates .. a dead set feeding frenzy of well heeled pigs feeding at the trough whilst fairness is thrown out the window ..

Either way it will be passed onto the buyers (the end users) which will in turn make ebay an even less attractive place to buy of course.

bring it on Joe .. I will be watching closely ..

[x3n0m]

Before they can be "hunted down" our government needs to change the law and wait and see if these companies comply.  Only if they do not comply with the new laws can they be "hunted down".

That is actually incorrect .. as it stands profits made in Australia are to be taxed in Australia .. there is no sidestepping that or no amount of bleating from multi-national company apologists can change the facts of what is blatant tax-fraud and thus criminal activity which the Australian government will apparently be persuing and prosecuting .. what we are talking about here as far as retrospectively claiming tax from these multi-national criminal tax shirkers is that they are using complex and dodgey means to move monies made in Australia offshore via complex illegal methods which have to date has conveniently escaped scrutiny via the ATO etc .. if a multi national company is caught at that game they are stuffed ..

[lyndal1838]

Numerous governments have made numerous statements about the tax dodging multinationals.  Do you really think if the laws were in place for them to act on their threats to "hunt them down" that we would be continuing to hear these statements.

Successive governments have been slow with any action but very big on rhetoric.

[x3n0m]

Numerous governments have made numerous statements about the tax dodging multinationals.  Do you really think if the laws were in place for them to act on their threats to "hunt them down" that we would be continuing to hear these statements.

Successive governments have been slow with any action but very big on rhetoric.


I have a sneaking suspicion that you are correct Lyndal and the politicians will allow this high crime (treason in fact) to continue and actually will continue to encourage it and will continue to call it business/foriegn investment in Australia ..

If the politicians allow the abuse to continue for much longer we will become a third world nation with no business opportunities for nationals and wide open to never ending exploitation by the tax dodging corporates and multi nationals .. I personally think the rot has gone way too far and cannot be repaired and that we will soon see shanty towns popping up and the crime rate spiralling out of control in Australia .. the rich fat cat exploiters will just need to boost their security somewhat and it is business as usual (just like in South Africa) and when things get rough (ie. the blood money moolah stops flowing in) they can transfer all their wealth to some tax haven and fly their private jet to their private airfield on their private security island well away from the mess they created accrueing their dirty billions and then retire gracefully surrounded by 16 year old concubines and Millions of dollars worth of life support machinery and private medical staff .. meanwhile back in Australia the murder rate, social unrest, malnutrition and homelessness will bring the average lifespan down to about 35 years of age .. if our politicians do nothing about the corporations and their multiple tax rorts and corporate welfare right now then then this will be the face of Australia by the 22nd Century!! Rampant capitalism has a cost and it is measurable in human misery which will be seen as mere noise in the scheme of things as peoples rights get steam rolled by an increasingly fascist regime until the only thing left for the common man is to fight to the death or run for their life and hide .. what will be left will be a basket case wasteland society somewhat like that seen in Cambodia and that is if the swiss bankers and powers that be decide to let some of us survive as a cheap labour force to toil in their factories and fields ..

[x3n0m]

And here is where the money goes ..

http://www.theguardian.com/artanddesign/2015/may/11/christies-art-auction-picasso-giacometti-records

a real contribution to society (NOT!!!) .. this stupid drunken abstract painting by Picasso just sold for 202 Million Australian Dollars .. the stench of the rich is becoming fierce! Am wondering if whoever bought the artwork will need public monies to repair the roof of the palace so their priceless artwork collection doesn't get weather damaged ..

http://www.theguardian.com/artanddesign/2015/may/11/christies-art-auction-picasso-giacometti-records