Hundreds of ‘Aussie’ companies operating in tax havens

Hundreds of so called Australian companies that employ thousands of Aussies on Australian shores, are registered in off shore tax havens, in order to evade, reduce or minimise their taxation dollars.

(illustration: Secret Handshake)

Those Aussies are paying tax on monies earned from overseas ‘companies’ which is another matter altogether, which will not be discussed in this article.

These companies hold famous brands that most people can identify, also in the scam are involved accountancy firms, administrative firms, banking institutions, clothing companies, department stores, legal firms, mining companies among others across various industries throughout Australia.

Over 20 years ago, the Australian giant department store Myer, was grilled on national television, how it justifies selling a $1 landed shirt for $10. The response given was that it (the shirt) is handled via a few (shelf) companies.

Various sources (one from Australia’s largest chartered accountants) have indicated, and bragged, how the Australian public is being duped by these companies who ‘operate’ in off shore tax havens, laughing about the occurrence, and the sheer ignorance of the general public.

The tax office has a list of overseas registered businesses which operate in Australia, turns a blind eye to the corporate fraud committed by these companies, as they generate an entire ‘eco system’, turning over billions annually.

The end result is that the worker / general population pays the taxes that support these companies business practices.

The exact same ‘fraud’ carried out by one person or company is labelled as such by the tax office but carried out by a ‘supported’ few or group is left alone by the tax office.