While the Federal LNP Government continues to push for its $63b worth of corporate tax cuts there is increasing evidence that the cuts will do little to nothing to improve wages for working Australian’s. Furthermore it is also reported that many of Australia’s largest corporations don’t and haven’t paid any corporate tax for years despite massive increases in profits and obscene increases in CEO salary packages.
A case in point is QANTAS CEO Alan Joyce who has seen his total salary close to double from $12.9 million in 2016 to $24.6 million last year thanks to a huge jump in the value of shares provided as part of a bonus scheme. While for QANTAS workers, the average pay rises of less than 3% pa for the past decade have barely kept pace with inflation. QANTAS has reportedly not paid any corporate tax for 10 years. The rules are broken time to change them.
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