Our governments over the last 30 years have neglected corporate taxation to a point today where 579 corporations in the top 1500 pay no tax. The other 921 companies have paid varying amounts from1% up to 5% These corporations manipulate laws to lower what their taxable income is by up to 90% in countries all around the world in some instances using subsidiaries or shelf corporations. This means that tax revenue from companies in Australia is a mile off what it should be based on their true revenue.It has had a devastating impact on Australia. We have been misled by many governments and a lot of MP's for 30 years. In this time we have seen services diminish, assets stripped & sold. Our politicians have used a lack of revenue as the reason for these austerity measures.
There are too many links with the companies & MP's & or political parties.Donations Jobs, board roles speaking engagements with massive fees, jobs for relatives gifts consultancies etc.
How do we fix this issue? Until we either get public awareness of the seriousness of the issue or we get a fair dinkum investigative body with broad investigative & prosecutorial powers, we won't.