This Month
Pfizer paid little tax on $1.4b in COVID vaccine sales
Vaccine maker Pfizer paid just $29 million in local tax on its $1.4 billion of sales in Australia during the pandemic, raising political questions about the adequacy of the pharmaceutical giant’s tax payments.
- John Kehoe
November
Royalty hike and IR overhaul threaten critical mineral pipeline: BHP
BHP says Australia’s position as the world’s premier mining destination is threatened by the Albanese government’s looming industrial relations overhaul and increases in state government mining royalties.
- Michael Read
The companies that pay the most tax, ranked
The businesses run by billionaires Andrew Forrest and Gina Rinehart paid almost $5 billion in tax last year, but that was nowhere near as much as BHP and Rio Tinto.
- Tom McIlroy
One sector pays more tax than all the rest combined
Resources companies including BHP, Rio Tinto and Fortescue helped raise the federal government corporate tax take by 22 per cent last year.
- Tom McIlroy
October
Australia is Uber’s crown jewel after ‘collections’ surge to $9.2b
But new labour laws are likely to mean the company’s customers face higher prices as wages go up. The TWU says the jump in sales supports the need for change.
- Updated
- Nick Bonyhady
- Exclusive
- Australian economy
Regulation leaves Australia trailing Singapore as investment hub
The Financial Services Council said Australia can rival Singapore as a destination for offshore capital if rules around new fund structures are improved.
- Tom Richardson
Developers face uncertainty on thin capitalisation rules
The federal government’s proposed laws to crack down on excessive tax deductions are not fit for purpose, industry figures and independent MPs warn.
- Michael Bleby
September
Atlas Arteria to fight new French motorway taxes
Toll road group Atlas Arteria’s lucrative French motorway could be hit with a new annual tax of almost $200 million after the French government released its 2024 budget.
- Jenny Wiggins
- Opinion
- NSW budget
Businesses will need crystal ball to avoid NSW tax on restructures
Corporate groups including property developers large and small face increased duty risks in NSW from February 1 next year.
- Matthew Cridland
- Opinion
- Chanticleer
Give and take in NSW coal royalty debate
NSW’s coal miners will pay significantly higher royalties from next year. Now they want something back.
- Anthony Macdonald
August
Labor has no appetite for bold tax reform
Ambitious tax reform is off the agenda due to the political difficulties and, instead, the Albanese government will continue to make change using “bite-size chunks”.
- Phillip Coorey and Michael Read
Battler for small business could be next ATO commissioner
The ATO should improve public guidance about rules for legal assistance in disputes with small-business operators, a new report has warned.
- Tom McIlroy
PM tells true believers: hold on to power
Anthony Albanese says strong economic and national security credentials, and keeping promises, are vital to staying in power.
- Phillip Coorey
Why windfall taxes are now wildly popular
Levies which initially focused on banks and energy are now spreading into other sectors. More than 30 taxes have been introduced or proposed in Europe since 2022.
- Emma Agyemang
Analysts say CBA’s $10b profit isn’t big enough
The cool response to CBA’s 2023 record profits comes as ANZ walked back a big cashback offer for customers in the latest sign of the squeeze on banks.
- Lucas Baird and James Eyers
- Updated
- Italy
Italy backtracks on bank windfall tax after shares slide
The finance ministry said the tax on net interest income would be capped at 0.1 per cent of risk-weighted assets, a fifth of the level that Citi analysts had estimated.
- Updated
- Silvia Sciorilli Borrelli
Italy surprises markets with tax on ‘extra’ bank profits
The levy was slipped into a huge package of measures that ranged from taxi licences to foreign investment. It could bring over $3.4 billion into state coffers.
- Alessandra Migliaccio and Vernon Silver
July
Labor faces crossbench pressure over coal and gas
Senator David Pocock’s first bill will target climate change while The Greens will release documents showing Jim Chalmers ignored Treasury on the gas tax.
- Ronald Mizen
Fed paper says S&P 500 returns on track to fall to 2pc
After decades of falling real interest rates and corporate taxes, the S&P 500’s “exceptional” performance is poised to turn modest.
- Timothy Moore
June
Budget surplus soars to $19b on the back of surging taxes
Surging company tax and personal income tax swelled the budget surplus with a month to go in the financial year, Department of Finance figures revealed.
- John Kehoe
