Google paid only 15% tax in Australia last year … and that was the most tax they’ve paid for some time. You can only guess the quality of their tax advisors, and how well they know the rules of the game and the loopholes to get out of paying exorbitant taxes.
In my late teens, I remember reading about many of the great tax planners, and when I worked at the Tax Office, I was fascinated with how Kerry Packer successfully used Australian-based and overseas-based structuring 100% legally (it must ALWAYS be that … you never want to go to jail for money) to pay only 4% tax one year. (I may not have my figures exactly right, but it was something like that.)
The good news is, you also can pay minimal tax with the right tax planning … it’s all about knowing the rules of the game, doing it 100% legally, and most importantly, having the right advisors.
To read Google’s current issue, click on the link below.
To find out how you can save your taxes with the RIGHT tax planning click here to go to our contact page and let us know what we can help you with.