No profits or tax, but plenty of money for political parties

CRIKEY
Bernard Keane
18 December 2015

If you’re unhappy about the large number of high-profile companies that found a way not to make a profit and thus paid no tax in 2013-14, relax — a few of them are finding a way to give a little bit back to the country where they’re earning so much revenue and yet, seemingly, so little profit. They weren’t able to make a profit or pay tax, but they’re doing their bit for civic life by finding some spare change to give to political parties — particularly the Liberal Party.

Take global energy giant Chevron, for example, which earned over $3 billion in Australia in 2013-14 but, doubtless to the dismay of its executives, somehow failed to make a profit and thus paid no tax. Nevertheless, according to Australian Electoral Commission data (we’ve confined our search just to 2013-14), Chevron gave over $70,000 to the ALP and over $120,000 to the Coalition, mainly the Western Australian Liberal Party.

> Read more: https://www.crikey.com.au/2015/12/18/no-profits-or-tax-but-plenty-of-money-for-political-parties/