Uninformed left labor spin from you to be honest. I’m an ex...

Uninformed left labor spin from you to be honest. I’m an ex corporate tax expert with transfer pricing experience. While some multinationals do questionable transactions to shift profits offshore, I’d argue mining and O&G do not fit in this category. For O&G it’s the initial payback period for the investment (capex) via depreciation deductions. In layman’s terms, that means once the initial investment is paid back then the project (assuming it makes a profit) will pay a lot of tax. That’s fair, why should you recoup $10-$20bn back first for the risk fronted. 

Regarding interest deductions - thin capitalisation limits it. It’s not so bad. 

Id argue it’s low margin businesses like furniture or retail that screw the Australian tax payers. Very very easy to eliminate that small % profit via royalities. Anyway another topic.

Try educating yourself on this matter, the ABC and labor don’t have a clue.