The proportion of people in Australia on welfare is the lowest it has been in 17 years. Out of 30 OECD countries Australia ranks 25th for spending on social security. Australia spending on disability support and pensions is well below the OECD average and total welfare spending is less than two-thirds of most European countries.
Government's response: Radical overhaul.
Swiss owned company Glencore Xtrata is Australia's largest coal miner. It is alleged that using a series of elaborate foreign loans they have avoided paying any tax on $15 billion profit for the last 3 years.
In 1989 News Corp executives used a series of share transfers through local and overseas subsidiaries to produce an on-paper loss resulting in a $882 million dollar tax refund from the ATO earlier this year.
Tax loopholes and minimisation schemes for businesses and wealthy individuals cost Australia $22 billion per annum in lost tax revenue. Businesses failing to declare income, failing to pass on GST revenue and claiming false tax deductions costs over $10 billion per annum. Illegal tax avoidance costs a further $17 billion per annum.
Government's response: More of the same.