Last year Apple paid $40 million in Australian taxes. A fair figure some would argue. But when you consider that Apple’s revenue during that same period was $6 billion, that raises some eyebrows. Ed Husic, Federal MP for Chifley, wants to know why Apple is earning so much and paying so little.
After hearing that Apple claimed $5.5 billion in expenses, Ed Husic said the following…
How? They do not manufacture here. They have no factories here. I do not know what their R&D effort is here—I do not know if they are claiming that this is driving their costs up. They have got a growing number of retail outlets, which I am happy about—they are creating jobs locally; that is great—but surely those outlets do not cost $5.5 billion to maintain.
They have a head office here, but you would not know it because they maintain a cloak of invisibility and their key management team dodge any scrutiny and refuse to even engage on public policy issues. Given the lack of work they do on that front, you would hardly say that it cost $5.5 billion to maintain a head office here and dodge that limelight.
These figures have led Husic to wonder precisely how and why tech giants are paying so little tax in this country.
You can read Ed Husic’s full speech here.