Tag: Corporate Welfare
This week, Congress is putting final touches on the CHIPS Act, which will provide more than $52 billion to companies that design and make semiconductor chips. The subsidy is demanded by the biggest chip makers as a condition for making more chips here.
RoboDebt wasn’t as generous as the ATO
Pressure mounts to publicly name companies that received JobKeeper while turnover increased ATO will not pursue $180 million in JobKeeper payments to businesses that made ‘honest mistakes’ Questions were raised about the definition of ‘small and medium business’
Australians overwhelmingly believe companies that have used the federal government’s $98 billion JobKeeper program to boost their profits should be made to repay the cash.
Source: Australia COVID: JobKeeper overpayments should be returned to taxpayers, voters say
Nothing says “we are the government for big business only” like doling out money for nothing to multinationals with one hand, while simultaneously clawing back cash from the impoverished with the other.
Source: Corporate welfare for the greedy — Robodebt 2.0 for the needy
Lendlease’s tax scam rivals the biggest heists of the century – alongside Rupert Murdoch, Chevron and Macquarie Bank. Yet its effects are spreading from a mere rip on the ATO to the nurses and teachers fund Aware Super which just acquired a chunk of retirement village assets. If Lendlease can ‘double dip’ on tax deductions, then anybody can. It opens up the Tax Office to millions of amended assessments. Michael West reports.
Teachers and nurses fund Aware Super now exposed to Lendlease retirement village rorts as Tax Office dawdles – Michael West
Yesterday we kicked off the corporate welfare awards with a round of prizes for some of the most dubious JobKeeper recipients — billionaires, investment bankers and large companies handing out big dividends to shareholders with one hand while taking from the taxpayer with the other. Roll up! The greatest rort on earth is playing out in a company near you Read More Today we continue the theme with another round of accolades for business heavyweights who cashed in on the $100 billion scheme. Some were gracious enough to hand it back — a noble and PR-worthy act. Others couldn’t quite bear to part with the cash. We also give a gong to the little companies that made big profits thanks to the scheme. Here’s hoping they don’t fly under the radar.
JobKeeper gravy train keeps rolling on for corporate welfare rorters
The Murdochs and Packers have got their fingers in the taxpayer honeypot again, this time winning nearly $6 million without a tender from the Department of Health. Michael West reports on Mable and the latest in corporate welfare.
via News Corp and Packer aged care “win” is tip of corporate welfare iceberg – Michael West
Abolishing Australia’s carbon pricing mechanism in 2014 was a consequential failure of politics. The fine-tuning of the patchwork of policies that followed does not make up for it.
via Morrison government dangles new carrots for industry but fails to fix bigger climate policy problem
Corporate Fraud and Tax Cuts money for nothing and no ICAC support from the LNP (ODT)
The retail group that owns Rebel Sports, Supercheap Auto and Macpac has admitted to underpaying workers by almost $8 million after incorrectly calculating overtime pay and allowances.
via Rebel, Supercheap Auto owner says it underpaid workers by $8m
Donald Trump owes the bulk of his business success to government subsidies.
Source: Exposed: How Trump built his empire with nearly $900 million in government handouts
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