Rupert Murdoch’s US empire siphons $4.5b from Australian business virtually tax-free

Rupert Murdoch’s media empire in the US has siphoned off $4.5 billion of cash and shares from his Australian media businesses in the past two years, virtually tax free. According to calculations by University of NSW accounting academic, Jeffrey Knapp, over the past 10 years, Mr Murdoch’s companies here have paid income tax equivalent to a rate of 4.8 per cent … Continue reading Rupert Murdoch’s US empire siphons $4.5b from Australian business virtually tax-free