ATO finds 31% of large businesses reported nil tax paid as many companies deducted losses and used offsets to dial their bills down to zero
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A major streaming service, media outlets, big airlines and a pizza chain are among more than 1,200 large companies that paid no income tax in 2022-23, a new ATO report reveals, as many businesses deducted losses and used offsets to dial their tax bills down to zero.
Netflix’s Australian operations generated more than $1.15bn in income in the 2023 financial year, documents show, but had no tax payable.
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