6. May, 2016

Taxation / GST / International Companies

Collecting GST and a correct amount of Company tax from Internationals can be achieved. See my statement on taxation to understand why and how. It can be estimated by the 2015 & 2016 Budget on Company tax breakdown that approximately $1.5-2B could be the revenue take from this measure alone on the low side.

It is not known what are the actual sales that do not have GST payable by Internationals. If it was only 20% then that would represent $4b... it is estimated that International sales are actually between 30-35% that is $6-7B based on the NAB online retail sales index. Remember online sales are growing by 12-14%... Australia could be collecting $1b in GST from online sales in less than 3 years.

There is a need for a full disclosure and analysis of figures so that Australians can identify just how much public revenue is not being paid.