Australia news live: ATO finds one-quarter of big firms pay zero tax; credit and debit surcharges scrapped

The Australian Taxation Office (ATO) has found that nearly one-quarter of large companies pay no tax. This is significant because it suggests that some big businesses are taking advantage of tax loopholes or deductions to avoid paying their fair share of taxes. The revelation raises concerns about tax fairness and the potential impact on the economy, as it may lead to a decrease in government revenue.

Why it matters

The ATO finding that one-quarter of big firms pay zero tax may lead to increased scrutiny and potential tax reforms. This could negatively impact the profitability of these firms.

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MeridStreet does not reproduce source articles. The summary and analysis above are generated by MeridStreet from public headlines and its own market model; the original reporting belongs to The Guardian. For information only — not financial advice.