Latest Finance & Tax Stories

Revealed: Australia’s Top 40 Tax Dodgers for 2021

Revealed: Australia’s Top 40 Tax Dodgers for 2021

Drumroll … trumpets, red carpet: we are rolling out Australia’s Top 40 Tax Dodgers for 2021. Michael West unveils the villains and the heroes of the tax scene, including new gongs this year for Lifetime Achievement Award and UnAustralian of the Year.

The Usual Suspects: oil and gas majors star in Australian tax heist

The Usual Suspects: oil and gas majors star in Australian tax heist

Angus Taylor’s rescue package for the oil industry is a testament to governments getting gamed by large corporations. The latest Tax Office transparency data shows oil and gas juggernauts are Australia’s biggest tax cheats, again, yet now they are crying for public subsidies – and getting them – to prop up their oil refineries. Michael West reports on the good and the bad in multinational tax dodging land.

Zombie Cash-Splash: Treasurer ramps up orgy of corporate hand-outs

Zombie Cash-Splash: Treasurer ramps up orgy of corporate hand-outs

“Australians know there is no money tree,” said Treasurer Josh Frydenberg at the apogee of the coronavirus in May. But there is. The Reserve Bank is creating money out of thin air. It’s called QE. Michael West reports on the latest fruits to fall from Josh’s fertile money tree, particularly free cash from a hitherto hidden measure in the Budget.

Taxes are not a burden: they provide many of the good things in life

Taxes are not a burden: they provide many of the good things in life

Coalition spending over the past six years has been nearly half that of the past 40 years and is forecast to drop further. With many services already cut to the bone, even the Parliamentary Budget Office has warned such ‘spending restraint’ is likely to be unsustainable. In a post-pandemic world, bringing forward tax cuts that only benefit high earners would be irresponsible, writes Michael Keating.

Do the grandchildren really pay the debt? The problem with Scott Morrison’s plan for recovery, and MMT

Do the grandchildren really pay the debt? The problem with Scott Morrison’s plan for recovery, and MMT

The Government’s plan for economic recovery is wrong. Michael West investigates Modern Monetary Theory (MMT) and the false assumption that the national Budget is like the household budget, or a business. They are already creating new money while denying the proposition that creating new money will expand the economy; preferring to punish casual workers and Arts students, and pursue austerity instead.

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