With the second and third releases of ATO tax transparency data, the was no reaction from the financial markets at all, not even for those firms included in the disclosures. BEN RUSHTON/AAP

Revealing how much tax companies pay doesn’t move markets or reduce tax avoidance

Mandatory tax return disclosures for large companies were designed to increase public awareness of tax avoidance - but a new study reveals they may not work.
If Australia adopted a similar approach to the Hong Kong to eliminate debt loading abuse, United States oil and gas giant Chevron would have been denied A$6.275 billion in interest deductions. Ray Strange/AAP

Chevron is just the start: modelling shows how many billions in revenue the government is missing out on

New modelling shows governments need to ensure that corporations benefiting from the use of Australia’s resources, are contributing the same as they do in other jurisdictions.
The actual corporate tax rate in Australia is considerably lower than 30% due to the high utilisation of imputation credits by shareholders. Mick Tsikas/AAP

The government’s company tax cut win a triumph of politics over economics

The company tax cut may signal to the world that Australia wants to be competitive on corporate tax, but it won’t make much of a difference to our largest businesses and multinationals.
The amount of tax payable from Australian corporations went down in this latest report. www.shutterstock.com

The tax office’s transparency reporting is looking a little opaque

As long as the ATO doesn’t question why companies are reporting zero tax payable on their income, the public won’t know if serious tax avoidance is happening.
If the government wants to get serious about tax evasion it should create a public register for beneficial owners of companies. Martin Philbey/AAP

To really tackle corporate tax evasion we need a public register

The government should follow through on setting up a register of beneficial ownership of companies if it wants to get serious about tax evasion.
Investors need to know if there is impairment of assets, but research shows firms don’t always disclose all the information they should about this. Dean Lewins/AAP

Companies may be misleading investors by not openly assessing the true value of assets

Managers of well-known Australian companies are misleading investors by taking years to recognise asset impairments and not disclosing that information in financial reporting.

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