How companies like Ikea avoid paying tax.

That's a tax rate of about 3 percent. 

Treasurer Joe Hockey has discussed an increasing the GST as well as broadening it to include basic food items, medical, education and childcare. Meanwhile large corporations such as IKEA exploit every tax loophole and pay as little as 1 percent tax. 

If the government wants to bring the federal budget back into balance it should target those who can afford it. The company tax rate in Australia is 30 percent. That's what companies should pay, no more, no less. 

The government tries to increase taxes and cut funding to education, health and welfare while proposing tax cuts for companies and allowing them to exploit these tax loopholes to maximise their profits. 

ANZ has the worst record of all the banks for offshoring - 5,000 Australian jobs since 2007

 

 

ANZ announced today that they were cutting 140 jobs. ANZ said in a statement, "These changes are part of simplifying our business and being more efficient".  I don't believe that for one second. It's corporate greed plain and simple. 

Finance Sector Union (FSU) national secretary Fiona Jordan said it appeared the bank had made the decision to cut the jobs several months ago."

ANZ has the worst record of all the banks for offshoring - 5,000 Australian jobs since 2007 and still climbing," Ms Jordan said.

ANZ said staff would be given three months to move on but the bank was aiming to re-employ about 70 of them in other positions.

Some of the jobs were moved overseas to Manila in the Philippines and Bangalore, India, while others were cut due to "improvements in process".

These cuts don't just affect the 140 that are set to lose their jobs, the  FSU said up to 700 staff would be directly impacted by the job cuts and would potentially face increased workloads and stress created by the loss of staff.[1]

ANZ should just come clean and say, "We made $7.271 billion profit in 2014[2] and we want to make lots more in 2015."

Like Us On Facebook


[1] ABC News ANZ cuts 140 jobs from its Melbourne, Sydney offices.
[2] https://www.shareholder.anz.com/sites/default/files/2014-ANZ-Annual-Report.pdf