As readers will known both APN and Fairfax editorials have stated certain companies do not pay enough tax in comparison to their revenue.
I believe tax should be on profit, not revenue. But the editorials of the Herald and Dom Post do not seem to agree. It is for their benefit I have proposed a living tax campaign of 15% of revenue as a fairer tax system.
APN announced their full year results today. They are:
- Revenue $817m
- Profit $2.6m
- Tax (at 28% of profit) $728,000
Now this means they are paying tax at a rate of only 0.09% of revenue. This is appalling by their own editorial’s standard. At a 15% living tax rate, they should pay $123 million in tax. I look forward to their voluntary payment in line with their editorial stance.