Tracey Spicer And ‘A Rational Fear’ Are Here To Teach You How To Tax-Avoid Like Rupert Murdoch
Australia's biggest companies don't pay their share of tax. Why should you?
Earlier today Fairfax reported that ASX 200 companies are basically turning tax avoidance into a national sport, with Australia missing out on up to $80 billion a year from companies who engage in complicated legal sorcery to avoid paying the 30% corporate tax rate. Serial offenders include Singapore Telecom, which owns Optus, miners BHP Billiton and Rio Tinto, Westfield, and major banks like the Commonwealth Bank and ANZ, all of whom will no doubt be rigorously pursued by Joe “Lifters Not Leaners” Hockey for not pulling their weight.
The biggest offender, though? 21st Century Fox, which uses its 117 subsidiaries based in tax havens like the Cayman Islands to save itself over $1.6 billion in tax and effectively reduce its tax rate to 1.1% of its profits.
Happily, comedy old m8s A Rational Fear, together with journalist and TV presenter Tracey Spicer, have cobbled together a video explaining how Hardworking Aussie Battlers like you can squirm your way out of paying tax just as sneakily as 21st Century Fox owner Rupert Murdoch does.
A Rational Fear have been churning out some fantastic videos lately; here’s one about how to correctly protest in Victoria without breaking the law, which can basically be summed up with “don’t protest in Victoria”.