Business
Google, Facebook’s $6b tax break – The Australian Financial Review
There’s no level playing field. With only a fifth of their Australian earnings taxable and no turnover tax, tech giants will always always win any tussle with local media companies.

While Google and Facebook had estimated Australian sales of $7.4 billion in the year to December, Google and Facebook reported local sales of only $1.4 billion as taxable, representing a $6 billion tax break.
Facebook is particularly coy with its numbers, reporting Australian cash revenue of only $709.5 million last year, of which only $167 million was Australian revenue.
Drilling down, Facebook Australia “bought” advertising inventory from Facebook in Ireland for $508 million, and resold it i…
-
Noosa News21 hours ago
Woman was watching keepers work when lion attacked, Darling Downs Zoo says
-
Noosa News19 hours ago
Working for someone else made it hard to care for my daughter. So I quit
-
General24 hours ago
Developer warns wind energy capacity may not be ready by WA coal deadline
-
Business6 hours ago
Ford CEO makes stunning prediction about artificial intelligence