Support has been thrown behind a proposed tax on digital platforms including Google, Facebook and Uber.
The measure was supported Senate crossbenchers and may be voted on and implemented in the next two weeks.
The final two votes needed to secure the tax are held by Centre Alliance senator Stirling Griff, who along with colleague Rex Patrick, according to The SMH.
Though both have said the party was “100 per cent behind a digital economy tax proposal”.
“If the digital economy tax makes the government coffers swell more than they do now, that is very much a positive step,” Senator Griff added.
“As long as there are no cuts to core community services, we’d be receptive to a degree of tax relief for everybody. A lot could happen in six weeks; maybe the company and income taxes can be done by July.”
Meanwhile, Treasurer Scott Morrison has claimed digital platforms are “ripping out a big part of our tax base”.
The news follows Google and Facebook back paying the Australian Taxation Office (ATO) millions in local taxes a fortnight ago.
The crackdown on multinational tax avoidance saw Facebook pay $31 million to the ATO.
The fee covers Facebook’s presence in Australia from 2009 to 2015, however, may not be representative of the platform’s actual profits during those six years.
In 2017, Facebook reported a local tax bill of $11.2 million on a profit of $32.9 million, however, in 2016, posted pre-tax earnings of only $6.3 million and paid $3.3 million in tax.
The drastic increase in – or more likely underreporting of – local revenue may be due to the platform having to be more transparent about revenue thanks to the ongoing probe into Facebook’s Australian division.
Google has also recently released its local accounts and profit, with the tech giant reporting a profit of $125.1 million in 2016 from its Australian arm.
Last year Google Australia earned roughly $3 billion in advertising while Facebook earned $479 million in ad spend revenue.
Leading Australian market research data brand, RDA Research, provides actionable consumer intelligence to help businesses inform decision making and growth strategies. RDA Research wanted to make its unique consumer data available for addressable digital targeting and required a data onboarding partner to help activate their data in an online environment.
Storytelling agency Enthral has appointed Channel 7 reporter and sports presenter Sean Sowerby as its new senior PR and content manager in Melbourne. Sowerby (pictured) started his award-winning career at 3AW before spending more than 15 years in television. Enthral founder and manager director, Cameron Smith, spoke of the significance of Sowerby joining the agency. […]
This week Nova’s Fitzy & Wippa are celebrating 10 years of their iconic radio show and plenty of famous faces have weighed in on the feat! For Fitzy & Wippa’s 10-year anniversary show they were joined by a bunch of special friends who shared their messages and favourite memories over the last decade. The guys […]
Ever since Google first announced it would be getting rid of third-party cookies on Chrome, digital advertising businesses have been actively sharing their plans for life after cookies. And now programmatic advertising company Blis might have come up with the most creative way to get the message across, in a new video which sees company […]
Integrated Melbourne agency Icon has taken top honours in the 2021 SABRE Awards, winning the coveted Australasian Consultancy of the Year for 2021 along with a host of category and craft awards. Icon led a large field of Australian agencies with a total of three major and seven minor awards, including gold in the cause-related […]
Former agency executives Tim O’Neill and Tim Fouhy have launched the auto technology startup Summon. Australia’s first full e-commerce service for prestige cars. O’Neill and Fouhy both founded Reactive, a digital agency, which was bought by Accenture in 2016. Following the deal, O’Neill and Fouhy ended up leading the company’s digital marketing arm, Accenture Interactive before […]