General Research #20711 >>16371693

Californian Fairytales: what Google, Facebook and Netflix told the Australian Tax Office

It’s been a golden era for Google Australia, Netflix Australia and Facebook Australia. Bunkered in pandemic lockdowns, Australians spent record time on their screens. How then did the digital giants rake in so much cash but pay so little tax? Michael West looks at the tall tales the multinational tax dodgers tell the Australian Tax Office.

Coinciding with the drama of the election, a slew of the world’s biggest companies have just quietly dropped their financial reports, a once-a-year affair which affords us a glimpse into how they, with their plotting advisers from EY, KPMG, Deloitte and PwC, are robbing Australia on the tax front.

We say “quietly” because they don’t post this important stuff on their websites. They hide it their statutory reports, furtively filed to the corporate regulator ASIC.

When it comes to multinational tax dodging the art is telling a story, spinning a good yarn to the Tax Office. They spin various yarns, like “we had to borrow $11bn from our other companies overseas” (Exxon), or “that $7bn in revenue is not really revenue like you think it is, duh” (Google), or “this is not really Australian income, though we made it from selling to Australians in Australia to watch on their Aussie TVs, it really belongs in a tax haven” (Netflix).

If it’s Big Pharma they have their armies of highly paid advisers and lawyers backing them on transfer pricing myths, that is, how their Australian companies had to pay high prices for those drugs to their other companies overseas – and that’s why profits are not very high here and we can’t afford to pay much tax.

The unifying factor in in these tall tales and untrue, is that their stories are designed to explain how they wiped out profits in Australia deliberately, and funnelled the money offshore. Where would you rather book a profit? In Bermuda, where the corporate tax rate is zero, or Australia, where it is 30%?

Google’s Elf Revenue, a Californian fairytale

Take Google Australia for instance, which has just reported its results for the year to December 2021. Its tax people over in Mountainview California have concocted a ripping yarn about Google’s revenue in Australia not really being like, er, revenue anyway, and its auditors EY have agreed it’s a great story and signed off on the Californian fairytale as “true and fair”.

The pandemic has been a golden era for the monsters of the digital economy, billions of people in lockdowns around the world, billions captive to their screens. You would think then that Google, Facebook, Netflix et al would have paid a lot of tax. Not so.

Take Netflix for example, the world’s number one streaming service. It is a true story that all they do is stream content from offshore into Australian homes but they take the “it’s not really an Australian business so we won’t pay tax here” fable to the realms of fantasy.

https://michaelwest.com.au/californian-fairytales-what-google-facebook-and-netflix-told-the-australian-tax-office/

General Research #20717 >>16376852

Daniel Andrews' department told to release COVID-19 pandemic surveys in the 'strong interest' of the Victorian public

The Victorian Premier's department are attempting to overturn a decision to release secret documents from the height of the coronavirus pandemic using taxpayers' money.

The Victorian Department of the Premier and Cabinet (DPC) have launched a last-minute taxpayer-funded bid to stop the release of secret COVID-19 pandemic papers.

Daniel Andrews' office was instructed by Information Commissioner Sven Bluemmel to hand over the documents, which included surveys and emails, that detailed the reactions of the community on how he and the government performed in 2020.

QDOS polled members of the public before and after the second lockdown, that lasted 112 days, to give the Premier, his leadership and how it acted "on advice from the health officials" a score out of ten, redacted documents showed.

Victorians were also questioned on their thoughts about the COVID-19 restrictions and whether it was "much too soft, too soft, about right, too harsh, much too harsh".

Another query posed was if "you are more concerned about the coronavirus impact on health and society OR its impact on jobs and the economy".

The Australian newspaper requested the DPC for the 64 documents under the Freedom of Information but Mr Andrews' office refused to release or hand over seven specific papers with heavy redactions.

Mr Bluemmel flagged the "particularly strong" interest from the public to see the documents after Melbourne became the world's most locked down city in the world at 262 days over the course of the pandemic.

"I'm not satisfied their disclosure would be contrary to the public interest," he told the publication.

"I also consider there is public interest in disclosure regarding the expenditure of public funds.

"In this case, where such funds are spent by government on surveying attitudes on issues of significance to the community that may influence and impact upon government decision-making, the public interest is particularly strong."

https://www.skynews.com.au/australia-news/coronavirus/daniel-andrews-department-told-to-release-covid19-pandemic-surveys-in-the-strong-interest-of-the-victorian-public/news-story/860d61076ab38fe609e043ced697677f

General Research #20767 >>16415550

AFP warns Five Eyes Law Enforcement Group that foreign governments are supporting organised crime in Australia

Drug cartels and other organised crime groups are being infiltrated and assisted by hostile foreign governments to launder dirty cash and peddle illegal substances in Australia.

Key points:

AFP Commissioner Reece Kershaw gave a speech to the Five Eyes Law Enforcement Group

The group includes the FBI, DEA, UK Met Police, NZ Police and Royal Canadian Mounted Police

He says "the long shadow of organised crime and state aggression" is fuelling an increase in serious crimes

The alarming assessment was made by the country's top policeman at a Sydney meeting of leading crime-fighting figures from the Five Eyes nations of the US, UK, Canada, Australia and New Zealand.

Australian Federal Police Commissioner Reece Kershaw, who currently chairs the Five Eyes Law Enforcement Group (FLEG) says "the long shadow of organised crime and state aggression" is fuelling an increase in serious crimes.

"State actors and citizens from some nations are using our countries at the expense of our sovereignty and economies," Commissioner Kershaw told a gathering of visiting representatives from domestic and international agencies on Wednesday night.

Speaking to top figures from organisations including the FBI, Royal Canadian Mounted Police, New Zealand Police and the UK's National Crime Agency, Commissioner Kershaw confirmed that "federal crime in Australia is increasing".

"Contributing to this increase is the long shadow of organised crime and state aggression," he told his audience, which included new Attorney-General Mark Dreyfus.

"For the AFP, geopolitics and regional instability continue to influence our strategic priorities," he said.

"Our operational focus remains countering terrorism, espionage and foreign interference; child exploitation; cyber; fraud, and transnational serious organised crime – what we call transnational, serious and organised crime (TSOC)".

https://www.abc.net.au/news/2022-06-08/five-eyes-law-enforcement-group-representatives-in-australia/101135068

General Research #20806 >>16446060

Federal MPs and public office holders to receive pay increase of 2.75 per cent from July 1, Remuneration Tribunal announces

The pay rise of 2.75 per cent for all Federal MPs means Prime Minister Anthony Albanese's salary will be more than $564,000.

Prime Minister Anthony Albanese and leader of the Opposition Peter Dutton are set to get a pay rise ahead of the Fair Work Commission’s minimum wage increase on Wednesday.

The independent Commonwealth Remuneration Tribunal has ordered a 2.75 per cent wage increase for Federal MPs and public office holders from July 1.

This means the Prime Minister’s salary will boost to more than $564,356 a year, while the Opposition leader’s annual income will increase to $401,561.

The pay rise of 2.75 per cent follows a freeze on wage increases which took effect in July 2020 during the COVID-19 pandemic.

Before this year’s wage increase politicians were awarded a pay rise of two per cent in 2017, 2018 and 2019.

“While the work performed by the wide variety of offices in the tribunal’s jurisdiction, including members of parliament, is diverse and unique, the tribunal is conscious of ensuring that relativities within the group of offices for which it determines remuneration remain consistent,” the tribunal said.

While the pay rise is not in line with inflation – which stands at 5.1 per cent – the base salary of a backbencher will jump to to $217,060, meaning the lowest paid federal MP will rake in more than 97 per cent of Australians.

It comes as the Fair Work Commission is set to deliver its review of the increase to the minimum wages on Wednesday morning.

The decision will affect more than 2.6 million low-income earners with unions pushing for a 5.5 per cent increase to prevent further pay cuts to a quarter of all workers.

In 2021 the national minimum wage rose by 2.5 per cent to $772.60 a week, or $20.33 an hour.

The Fair Work Commission will hand down its decision at 10:00am on Wednesday.

https://www.skynews.com.au/australia-news/federal-mps-and-public-office-holders-to-receive-pay-increase-of-275-per-cent-from-july-1-remuneration-tribunal-announces/news-story/8c04c555a79bbc84110ca0f635f062e0

General Research #20806 >>16446073

Former Sydney councillor received 'bags of cash' in bribes from Chinese developer, ICAC told

A former Sydney councillor has told the anti-corruption watchdog he accepted bribes of $170,000 from a Chinese developer in exchange for his support of two major development proposals.

Key points:

Vincenzo Badalati told ICAC he received cash from a developer as a 'thank you' for voting in support of one project

He and fellow councillor Constantine Hindi also received money ahead of a vote on another project

The inquiry heard both men travelled to China frequently and the developers often paid for their meals

On Tuesday, the Independent Commission Against Corruption (ICAC) began its public hearings into the conduct of former Georges River councillors Constantine Hindi, Vincenzo Badalati and Philip Sansom as part of Operation Galley.

All three councillors served on Hurstville Council, before it merged with Kogarah Council to form Georges River Council in 2016.

They are alleged to have accepted benefits for helping Chinese developers get planning proposals approved for two major developments in Hurstville — the $29 million Treacy Street project (an 11-storey mixed-use apartment block) and the Landmark Square development (a complex of 19-storey residential buildings).

The projects were by developers Ching Wah (Philip) Uy, Wensheng Liu and Yuqing Liu and required councillors to make exceptions to the seven-storey building restriction in the area.

Former councillor Vincenzo Badalati told the inquiry on Tuesday Mr Uy gave him $70,000 for assisting with the Treacy Street project and another $100,000 for the Landmark Square development.

Mr Badalati detailed the day in 2015 when he met Mr Uy at a coffee shop in Kingsgrove and received $70,000 for the Treacy Street development, which he voted in favour of in 2014.

"He [Mr Uy] got a bag out and handed it to me and said 'thank you for your help on Treacy Street'," Mr Badalati told the inquiry.

"I saw the money when I got home. They were all bundled hundred-dollar notes. I put it in my safe. I told Constantine Hindi."

The other cash gift of $100,000 was handed over at a park in Rhodes in 2016 during a meeting between Mr Badalati, Mr Hindi and Mr Uy.

The money was intended to guarantee the councillors' favourable vote on the Landmark Square development.

"He [Mr Uy] opened his boot and gave us two bags each," Mr Badalati said.

"He said 'thank you for your assistance on Landmark'.

"Some went into the bank and some were spent."

https://www.abc.net.au/news/2022-06-14/icac-inquiry-into-former-hurstville-councillors/101150322

>>16444292

>The former socialite

Spoiled little rich girl not spoiled anymore

>The family has said British prisons are “far superior” to those in the US and treat prisoners more humanely

How many of the family has been in UK & US prisons?

>>16449737

Utter ChiCom propaganda

General Research #20816 >>16454205

Scientist who predicted Boxing Day tsunami says another disaster is coming | 60 Minutes Australia

Video at:

https://www.youtube.com/watch?v=YVe0YQ5otS0

General Research #20816 >>16454268

BHP announces plans to close NSW's largest coal mine at Mt Arthur by 2030

Mining giant BHP has failed to find a buyer for New South Wales' largest coal mine, and will close the operation in 2030.

The company spent two years trying to sell its Mt Arthur operation in the state's Hunter Valley, which employs 2,000 people.

The mine, near Muswellbrook, is approved to operate until 2026, but BHP has told the ASX it would apply to extend that until 2030.

After that, it will close.

Rehabilitation of the site is expected to take 10 to 15 years.

The mine's pit was today shut temporarily while employees were informed of the decision.

BHP's minerals president Edgar Basto said the company had reviewed potential options for the mine, including divestment and future investment requirements.

"Seeking approval to continue mining until 2030 avoids closure in 2026 and enables BHP to balance the value and risk of those considerations and our commitments to our people and local communities," he said.

The mine was once valued at $2 billion, but that has been progressively slashed.

After a write-down last year, BHP said the mine was worth nothing, once rehabilitation obligations were factored in.

Upper Hunter MP Dave Layzell said BHP's decision to operate the mine until 2030 was "good news for the Hunter Valley".

"There are a lot of jobs that are involved at Mount Arthur and I need to make sure that those jobs are maintained for the foreseeable future," he said.

"It's good that they go through the extension."

The Nationals MP said the decision to continue operating the mine until 2030 wouldn't impact the NSW government's blueprint to get to net zero emissions by 2050.

"This is all coal that is exported overseas," he said.

https://www.abc.net.au/news/2022-06-16/bhp-to-close-largest-coal-mine-in-nsw/101157404

>>16476675

General Research #20849 >>16480262

==Australian PM Refuses to Publicly Intervene in Julian Assange’s Extradition to the US

By Nina Nguyen June 20, 2022

Australian Prime Minister Anthony Albanese has said he will not take a more forthright public position in the case of WikiLeaks founder and Australian citizen Julian Assange.

The move comes amid mounting calls for the Australian government to intervene in the extradition of Assange to the United States where he is convicted of 18 charges, including hacking and espionage.

When asked whether he had spoken with U.S. president Joe Biden about the issue, the newly elected Australian PM said that he wanted to lead a government that “engages diplomatically and appropriately with our partners.”

“I have made clear on what my position is publicly. I made it clear last year,” Albanese said on Monday. “I stand by my comments that I made back then.”

“I make this point as well, there are some people who think that if you put things in capital letters on Twitter and put an exclamation mark that somehow makes it more important. It doesn’t.”

On Dec. 15, 2021, Albanese told ABC Radio Northern Tasmania that he did not see “what purpose is served” by the ongoing pursuit of Assange.

“The fact is that you have the circumstances whereby the person who has actually leaked the classified information to WikiLeaks is free, is walking around, isn’t incarcerated,” he said at that time, referring to former army soldier Chelsea Manning who was sentenced to 35 years in prison but was released in 2017 after former U.S. president Barack Obama commuted the rest of her sentence.

“But the person who published that information remains in jail in Britain awaiting the extradition procedures that the United States is taking place.”

On Friday the UK Home Secretary Priti Patel approved the Assange’s extradition, with the Home Office saying it had “not found that it would be oppressive, unjust or an abuse of process to extradite Mr Assange.” Assange faces up to 170 years in prison.

“Nor have they found that extradition would be incompatible with his human rights, including his right to a fair trial and to freedom of expression, and that whilst in the US he will be treated appropriately, including in relation to his health,” a Home Office spokesperson said.

Australia’s Foreign Affairs Minister Penny Wong said in a joint statement with Attorney-General Mark Dreyfus that Australia will continue to offer consular assistance to Assange but the government is “not a party to Mr Assange’s case, nor can the Australian government intervene in the legal matters of another country”.

Echoing the previous government’s opinion in the case, Wong said Labor would “continue to convey our expectations that Mr Assange is entitled to due process, humane and fair treatment, access to proper medical care, and access to his legal team”.

“The Australian government has been clear in our view that Mr Assange’s case has dragged on for too long and that it should be brought to a close. We will continue to express this view to the governments of the United Kingdom and United States.”

https://www.theepochtimes.com/australian-pm-refuses-to-publicly-intervene-in-julian-assanges-extradition-to-the-u-s_4544434.html

South Africa #7 >>16495133

“Glencore riding energy crunch to record profits”– 20 June 2022

https://www.australianresourcesandinvestment.com.au/2022/06/20/glencore-riding-energy-crunch-to-record-profits/

20 June 2022

Glencore is earning more money in a six-month period than it would in a typical calendar year amid booming thermal coal prices.

The major miner said its commodities trading unit was on track to post a $US3.2 billion ($4.6 billion) EBIT (earnings before interest and taxes) for the six months to June 30, nearing the record profit the division enjoyed in the 2021 calendar year ($US3.7 billion).

To put that into perspective, Glencore’s long-term guidance for annual EBIT is between $US2.2–3.2 billion.

It comes as the company forecasts its thermal coal benchmarks to rise from $US32 per tonne (as announced in February 2022) to between $US82–86 per tonne (t) for the half year. This has coincided with the Newcastle thermal coal price ballooning from $US175/t to $US318/t across the same timeframe.

While earnings have jumped, so have costs and Glencore said it was poised to increase its FOB (free on board) thermal unit cost from an earlier 2022 guidance of $US59.3/t to between $US75–78 for the six-month period. The company has felt the pinch of rising prices for fuel, electricity and logistics.

With Russia–Ukraine war continuing to destabilise commodities, Glencore said its trading unit had responded to the cause.

“Our marketing business has successfully navigated the extraordinary global challenges faced during the period, being a source of continuous and reliable commodity supply to our vast customer base,” the company said in a statement.

“Against this challenging and elevated risk backdrop, our marketing segment’s financial performance has continued to be supported by periods of heightened to extreme levels of market volatility, supply disruption and tight physical market conditions, particularly relating to global energy markets.”

Several commodities have reached record high prices in the midst of the Russia–Ukraine conflict, with coal producers a particular beneficiary given Europe’s denial of Russian energy sources.

Glencore operates 17 coal mines across New South Wales and Queensland.

Might want to keep the name Glencore in mind. I invite Aussies to peruse South Africa bread #7 at >>15493933 as there's a ton of info being posted about them and their dealings

>>16509777

Looks like Will hangs out on 8kun