Forum

 
  Back to OzPolitic.com   Welcome, Guest. Please Login or Register
  Forum Home Album HelpSearch Recent Rules LoginRegister  
 

Page Index Toggle Pages: 1
Send Topic Print
Chevron's Tax Bludge. (Read 1663 times)
issuevoter
Gold Member
*****
Offline


Australian Politics

Posts: 9200
The Great State of Mind
Gender: male
Chevron's Tax Bludge.
Apr 23rd, 2017 at 8:25am
 
If you tried this stunt, you would end up in jail. Chevron loans itself billions and the Australian tax payer pays their interest.

https://www.theguardian.com/business/2017/apr/21/chevron-australia-faces-tax-bil...
Back to top
 

No political allegiance. No philosophy. No religion.
 
IP Logged
 
Dnarever
Gold Member
*****
Offline


Australian Politics

Posts: 57065
Here
Gender: male
Re: Chevron's Tax Bludge.
Reply #1 - Apr 23rd, 2017 at 8:56am
 
Yet the problem isn't that doing this is illegal just that they went too far.

The took a loan in the US at 1.5% and loaned it to themselves at 9% for the purpose of maximising their tax advantage, apparently there is nothing wrong with doing this the problem is that they got too greedy and the rate was unreasonable because a local genuine loan would have been much cheaper.

i.e. had the loan been 5% it would be ok.

To me it looks like the major problem is not being addressed.

Back to top
 
 
IP Logged
 
Grappler Truth Teller Feller
Gold Member
*****
Offline


Australian Politics

Posts: 79579
Proud pre-1850's NO Voter
Gender: male
Re: Chevron's Tax Bludge.
Reply #2 - Apr 23rd, 2017 at 9:29am
 
Shows the need to change the tax laws here to stop this kind of robbery.
Back to top
 

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams
 
IP Logged
 
issuevoter
Gold Member
*****
Offline


Australian Politics

Posts: 9200
The Great State of Mind
Gender: male
Re: Chevron's Tax Bludge.
Reply #3 - Apr 23rd, 2017 at 11:18am
 
Chevron Australia, as a company, is a way of pretending Chevron is loaning money to another entity. Its not a real separately owned business. No one is loaning anything, they are just shifting money around, and as it passes through Australia (in a computer file) it gains interest. Lots of interest.

It may be legal, but it would not be the first time the Australian tax payer got shafted by the lawyers of big business. These are same people who announce loudly that we cannot afford social services, the age of entitlement is over, and pension age should by raised to the point where you die off before the government needs to pay anyone.
Back to top
 

No political allegiance. No philosophy. No religion.
 
IP Logged
 
Ajax
Gold Member
*****
Offline


CO2 has never controlled
temperature on Earth

Posts: 10952
Australia
Gender: male
Re: Chevron's Tax Bludge.
Reply #4 - Apr 23rd, 2017 at 11:38am
 
Has there ever been an estimate where, if all the multi nationals in Australia were to pay their taxes in full like the good citizens they are striving to be one day in the future.

How much money our government would get....??
Back to top
 

1. There has never been a more serious assault on our standard of living than Anthropogenic Global Warming..Ajax
2. "One hour of freedom is worth more than 40 years of slavery &  prison" Regas Feraeos
 
IP Logged
 
The_Barnacle
Gold Member
*****
Offline


Australian Politics

Posts: 6205
Melbourne
Gender: male
Re: Chevron's Tax Bludge.
Reply #5 - Apr 23rd, 2017 at 12:02pm
 
Grappler Truth Teller Feller wrote on Apr 23rd, 2017 at 9:29am:
Shows the need to change the tax laws here to stop this kind of robbery.


You would think so wouldn't you...
But it seems the government is far more interested in demonizing welfare recipients.
Back to top
 

The Right Wing only believe in free speech when they agree with what is being said.
 
IP Logged
 
Dnarever
Gold Member
*****
Offline


Australian Politics

Posts: 57065
Here
Gender: male
Re: Chevron's Tax Bludge.
Reply #6 - Apr 23rd, 2017 at 12:11pm
 
The_Barnacle wrote on Apr 23rd, 2017 at 12:02pm:
Grappler Truth Teller Feller wrote on Apr 23rd, 2017 at 9:29am:
Shows the need to change the tax laws here to stop this kind of robbery.


You would think so wouldn't you...
But it seems the government is far more interested in demonizing welfare recipients.



Yes but I am sure that there is a pensioner somewhere who was paid $20 extra once ? Our government will spend billions to catch them.
Back to top
 
 
IP Logged
 
Page Index Toggle Pages: 1
Send Topic Print