QF in tax spotlight

QF in tax spotlight

QANTAS has come under scrutiny over its tax contributions, with the ABC naming the national carrier among top Australian companies that have not paid corporate tax for several years.

The public broadcaster says QF has not paid tax for close to 10 years despite generating income of $106.4 billion since 2009.

It acknowledges the airline’s sizeable losses in past years, but says Australia’s generous tax concessions allow companies to offset losses against past and future profits.

Other carriers named include Emirates, Qatar Airways, Tiger Airways Australia and Virgin Australia Holdings, all of which paid zero corporate tax in the 2013/14, 2014/15 and 2015/16 financial years, the ABC says.

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Source: traveldaily