Tax stats. Meet the 56 millionaires who pay next to nothing

  • Paying tax has become optional for 56 of Australia’s highest earners. Newly-released tax statistics show each of the 56 paid next to no income tax in 2013–14, not even the Medicare Levy, even though each earned more than $1 million.

    But escaping tax cost the millionaires dearly. The same document shows 27 of the 56 claimed a combined $46.7 million for the “cost of managing tax affairs”, around $1.7 million each.

READ MORE VIA SMH.COM.AU

Tax

All but two of the 56 high earners paid no income tax at all. Photo: Jessica Shapiro