A new report by corporate tax experts from Sydney’s University of Technology, in conjunction with GetUp, has found that 76 of Australia’s largest multinationals pay an average effective tax rate of just 16.2% – roughly half the corporate tax rate – and that this has cost the Federal Budget some $5.4 billion in potential tax revenue in 2013 and 2014. From The Guardian:
It says the largest corporations with operations in Australia favour two tax minimisation techniques over any others.
