Inequity in taxes paid is the core of our financial woes

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Welcome,

We got a small tax return from the Government in our family this week which was very welcome. We got something else from the Tax department, a bar chart to show where the tax that we had paid had gone to, for example how much in Health and Defense and Education. There was a little bar chart showing the relationship of each category spend and it was highly educational. It is not often that a Government Department comes up with an engaging solution for the people so this was refreshing. Maybe we need to a similar explanation for the Corporate sector. While the actual amount of tax a company pays is confidential under Australian law, an expense figure is calculated for the purpose of annual accounts. If it is possible to estimate Sales of, say Apple, could we not see a simple bar chart with a block that shows Sales and a block that shows Tax Paid? This way our little family can see what we earn and pay versus the Brands we support. Apple doubled their tax payment last year and put $80.3 million into our Community Chest because they had been put in the spotlight for shifting profits overseas the previous year. So well done Apple, we thank you for your generosity on sales of $6 billion which is 1.33% tax on $272.72 for every man woman and child. Not Bad! Now it would be nice is we all paid less than 2% but that’s not going to happen but you and I have a choice. If the Government can show us a simple barchart without any dollar amounts we can see the ratio of tax paid in Australia and decide which company deserves our custom. That would seem fair for Team Australia. Perhaps this information will show how much a Business ‘loves their customers’ by paying their way like the rest of us. Is that such a big ask? Ripping us off is so un-Australian don’t you think.

Such is life. Until the next time this is Brodie Goozée

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