Saturday, May 5, 2012

Google Australia: ~$1bn in revenue, $74k in tax | Delimiter

Search giant Google has revealed it expects to pay just $74,000 in corporate income tax for the 2011 calendar year in Australia, off claimed local revenues of $201 million, despite the fact that industry estimates have continually pegged the search giant’s Australian income at closer to $1 billion.

In its latest set of financial accounts filed this week with the Australian Securities and Investments Commission, Google stated that it received some $201.1 million in revenue in the 2011 calender year in Australia. Expenses largely associated with its significant Australian headcount of 568 staff ($143.5 million) and advertising costs ($18.9 million) meant the company made a loss on paper of $3.9 million in that period. Both Google’s revenues and losses were up over calendar year 2010.

In the statements, Google accounted for just $74,176 in taxation for that year, compared with $1.1 million for the year previously. It had $46 million in cash and cash equivalents on hand as at the end of December last year...

http://delimiter.com.au/2012/05/03/google-australia-1bn-in-revenue-74k-in-tax/