[debono]

It's Singapore Govt created. Loophole with Regional HQ solely for Tax Avoidance ..

Australians ATO were cheated  and  those Aussies depended on welfare and aged pension suffered for many years..

All developments were stall and govt new projects came to a halt.

How can the avoidance of a few hundred millions affect the welfare or pension of Australia.....?  Also,how can developments were stalled and govt. projects came to a halt...The tax SingTel owe cannot be so large as to affect all these.....

[lvlrsSTI]

How can the avoidance of a few hundred millions affect the welfare or pension of Australia.....?  Also,how can developments were stalled and govt. projects came to a halt...The tax SingTel owe cannot be so large as to affect all these.....

This guy in insane, he was born in Spore and still holding red passport, after living in Australia for a number of years he complains about Spore day and night, his threads are full of hated towards Spore, he talks like as if Spore owes him a living. For the case of Singtel, he should analyse what happened rather than pointing finger at Singtel (his parent company, he used to work at Optus after transferring from Singtel to Optus) and accusing Singtel for affecting Aussie’s welfare system. Unless he’s jobless and on social welfare downunder, just can’t understand why he is so upset on this, is his unemployment payment amount got affected by this and he is paid much less or what?

[debono]

This guy in insane, he was born in Spore and still holding red passport, after living in Australia for a number of years he complains about Spore day and night, his threads are full of hated towards Spore, he talks like as if Spore owes him a living. For the case of Singtel, he should analyse what happened rather than pointing finger at Singtel (his parent company, he used to work at Optus after transferring from Singtel to Optus) and accusing Singtel for affecting Aussie’s welfare system. Unless he’s jobless and on social welfare downunder, just can’t understand why he is so upset on this, is his unemployment payment amount got affected by this and he is paid much less or what?

He is all out to smear SingTel and Singapore, wonder what his agenda is, does he have an axe to grind.....?

[Scythian]

He is all out to smear SingTel and Singapore, wonder what his agenda is, does he have an axe to grind.....?

In 2016, all MNCs and top ,30 biggest Oz companies operating in Australia setting up Regional HQ or HUB in Singapore solely for tax avoidance were under Royal Commissioner of Inquiry.

All admitted to paying low Singapore corp taxes (BHP paid 2% to IRA) while all paid nothing to ATO for donkey years.

[Scythian]

He is all out to smear SingTel and Singapore, wonder what his agenda is, does he have an axe to grind.....?

Singapore Hub as booking centre, my colleagues (knows nothing Oz operations)  received large yearly bonus can afford to buy Mercedez E200

Oz making billions profits yet, year-end profit sharing amount cannot afford to pay for 1/2 COE.

Where's the logic?

[lvlrsSTI]

Singapore Hub as booking centre, my colleagues (knows nothing Oz operations)  received large yearly bonus can afford to buy Mercedez E200

Oz making billions profits yet, year-end profit sharing amount cannot afford to pay for 1/2 COE.

Where's the logic?

Unlike in Spore, Aussie companies dunt normally give year end bonuses, max CEO writes 1-2k pay cheques, that’s it. In Spore everyone gets at least one month bonus plus 3-5 months performance bonus, further more the income tax in Spore is very low, no need to pay much taxes for the bonus payouts…in Australia even if you strike 1st price of Lattsotto, you must pay 45% tax and you will be paid in instalments through out 30 years instead of one off payout.

[Scythian]

Unlike in Spore, Aussie companies dunt normally give year end bonuses, max CEO writes 1-2k pay cheques, that’s it. In Spore everyone gets at least one month bonus plus 3-5 months performance bonus, further more the income tax in Spore is very low, no need to pay much taxes for the bonus payouts…in Australia even if you strike 1st price of Lattsotto, you must pay 45% tax and you will be paid in instalments through out 30 years instead of one off payout.

You zzzz

B4 posted, I been paying between S$45k and S$60k taxes to IRA on yearly profit sharing.

Salary not included

[lvlrsSTI]

You zzzz

B4 posted, I been paying between S$45k and S$60k taxes to IRA on yearly profit sharing.

Salary not included

You should blame Optus Aussie management of being too stingy and unwilling to give good bonuses to employees despite of great yearly performance.

[lvlrsSTI]

You should blame Optus Aussie management of being too stingy and unwilling to give good bonuses to employees despite of great yearly performance.

As Singtel has to pay ATO big lump sum for taxes, it is so painful that Singtel HQ and Optus will have a good excuse of giving lesser bonuses to staff in Australia in the coming years.

[Scythian]

You should blame Optus Aussie management of being too stingy and unwilling to give good bonuses to employees despite of great yearly performance.

All MNCs profits were booked in tax haven and tax avoidance countries eg Singapore, Ireland Luxembourg etc....

While booking  all expenses in Australia and paid no taxes

[lvlrsSTI]

You zzzz

B4 posted, I been paying between S$45k and S$60k taxes to IRA on yearly profit sharing.

Salary not included

Thing doesn’t look good, since you have OZ PR already, I suggest that you shall join Telstra for better bonus, Singtel is stingy.

[Scythian]

Thing doesn’t look good, since you have OZ PR already, I suggest that you shall join Telstra for better bonus, Singtel is stingy.

Good suggestion..
Thank you

[lvlrsSTI]

All MNCs profits were booked in tax haven and tax avoidance countries eg Singapore, Ireland Luxembourg etc....

While booking  all expenses in Australia and paid no taxes

Not anymore, from 2017 onwards Australia and Spore joined global tax data exchange program using CRS, no company is able to do tax avoidance and envision anymore.

[Scythian]

Not anymore, from 2017 onwards Australia and Spore joined global tax data exchange program using CRS, no company is able to do tax avoidance and envision anymore.

Why was it not done in 2008, ten years earlier?

[Scythian]

Not anymore, from 2017 onwards Australia and Spore joined global tax data exchange program using CRS, no company is able to do tax avoidance and envision anymore.

For past many years, PM Lee says Singapore abides by international law and the rule of law.

So, why only 2018?

[lvlrsSTI]

OECD only implemented AEOI in 2014. Australia joined in 2017 and Singapore started in 2018.

[lvlrsSTI]

OECD only implemented AEOI in 2014. Australia joined in 2017 and Singapore started in 2018.

[Scythian]

OECD only implemented AEOI in 2014. Australia joined in 2017 and Singapore started in 2018.

When it's free $$$ ($$$ not belonging to you) and it's God sends, delayed  implementing to comply is an obvious choice.

It' becomes a morale question.
Taking full advantage @ others expense.

[Scythian]

OECD only implemented AEOI in 2014. Australia joined in 2017 and Singapore started in 2018.

In the first place, Singapore shouldn't be involved in such  monkey business.

It's wrong

[lvlrsSTI]

In the first place, Singapore shouldn't be involved in such  monkey business.

It's wrong

Actually Singapore and Australia signed Double Tax Treaty in Sep 2009, how come ATO never noticed this until 10 years later?

[Scythian]

Actually Singapore and Australia signed Double Tax Treaty in Sep 2009, how come ATO never noticed this until 10 years later?

Nothing to do with double tax agreement.

Singapore created a loophole allowing MNCs to setup Regional HQ and HUB for book keeping solely for tax avoidance.

IE transfering all the billions $ profits made from Oz operation be booked in Singapore Regional HQ or HUB and leaving all expenses in Australia ( making loses,)

And paying Singapore low corp taxes but paying nothing to Australia..

To be conti...

[Scythian]

Oz Govt financial budget in big deficits.

No money to build schools, hospitals, roads, transport, bridges , community facilities, and other infrastructures plus cutting jobless handout,  disability welfare and aged pension.

The whole country suffered in past years

W/O corp tax collection, Australia do not have SWF like wealthy GIC and Temasek.

[Scythian]

How can the avoidance of a few hundred millions affect the welfare or pension of Australia.....?  Also,how can developments were stalled and govt. projects came to a halt...The tax SingTel owe cannot be so large as to affect all these.....

Reported in 2016, Apple, Google, and Microsoft Australia operations together  transferred yearly more than A$16billion profit were booked in Singapore Regional HQ and paying Singapore corp tax.

Despite A$16 Bil were profits made from Australia sales (Becoz booked in SG) , they paying nothing to ATO

To be conti..

[Scythian]

Thus, whatever Singapore gain, Australians lost.

Those tax $$$ collected by Singapore were used to finance infrastructure projects eg MRT, HDB, Schools, roads, hospitals , public facilities etc..

Indirectly, 25 mio Australians were contributing to Singapores economy , development growth  and prosperity - everything done @ Aussies expense.

[Scythian]

Who would believe?

Singapore becomes parasite