##"""An offshore component of the group effectively loaned the Australian companies $800 million at 10.25 per cent return per year, in an agreement that would shift more than $80 million per year overseas until 2050," the report stated.""##
And that is how most of the companies from overseas usually operates.
A total and utter disgrace.
Lending money to their subsidiaries at highly inflated prices where no profits are left to be taxed upon here in Australia and where the profits are all transferred overseas in some tax free jurisdiction.
Finally the tax department is "starting" or better still "SHOWING" that they are doing something. This rot will have to stop. But it all depends on what our Treasurer and his department will do about it or put the brake son for fear of upsetting some foreign investors. Especially Asian ones where they seem to have a bottomless pit of money to be invested in overseas jurisdictions and especially here in Asutralia.
