Since Federation the Treasury has manipulated taxes to favor foreigners and to keep us poor by bestowing "naturalizing status" (their code word) on foreigners, giving them tax holidays and other benefits. Then in 1953 they recommended the Double Tax Agreement which allowed multinationals to pay little or no tax on their profit. This Bill was introduced to Parliament by Sir Arthur Fadden, which, at the time was vehemently opposed by the Hon Clyde Cameron AO. It was never publicized, and is still held under tight security.
It effectively wiped out Australian-owned companies leaving not enough tax volume to sustain our essential services and infrastructure. But more than this, it forced us to sell our assets to foreigners, making it impossible for us to finance our own future. This is being done by multinationals, who take the profit. We are lucky is we are getting wages, while they are taking $200 billion profit out of Australia - tax free - annually.
To cover up the extent of the foreign invasion the Treasury have manipulated the Australian Bureau of Statistics figures and they have also stopped the publication of vital information.
Thre Treasury reversed the role of the Foreign Inverstment Reveiw Board (FIRB) and further promoted the sale of our assets and the remaining Australian-owned companies. Corporate Australia is now 90% foreign owned.
Now the predicted decision of the FSI (Financial System Inquiry) allowing foreign banks and money lenders to manipulate rates signaling the loss of our homes, our farms, and the remaining Australian enterprise.
None of this swindle would have been possible had the Treasury not been able to control the media, which they have done since Federation.
This is economic warfare that we can quickly win now. The Double Tax Agreement Bill can be rescinded by Cabinet. Our politicians know the facts. The Treasury is not beyond the law.
AUSTAND draws your attention to the fact that $200 billion ($200,000,000,000) foreign profit leaves Australia each year Tax Free. Every other country in the world taxes foreign enterprise profits.
A 25% tax would yield $50,000,000,000 or $$2,777 Annually for every man woman and child in this country.
The following scenario illustrates the effect this would have on any Australian community with a population of 33,000 people. Collectively, this average community is being deprived of $91,641,000 annually and the spin off between 350 - 400 jobs.
Each year this unfair advantage is allowed to continue it is costing each of these Australian communities the equivalent of:
|50 additional Police at $40,000pa||$ 2 Million|
|50 additional Nurses at $40,000pa||$ 2 Million|
|50 additional Teachers at $40,000pa||$ 2 Million|
|Hospitals and health care||$ 20 Million|
|Ambulance service||$ 2 Million|
|Fire service||$ 2 Million|
|Daycare and kindergarten facilities||$10 Million|
|Aged care facilities||$10 Million|
|Roads and transport infrastructure||$10 Million|
|Water storage||$10 Million|
|Parks, gardens and conservation||$1.6 Million|
|Recreation facilities||$5 Million|
(It can be argued where these proceeds could be best spent: $50 billion a year would go a long way towards reducing our national debt rather than selling public assets to service the interest of this debt).
AUSTAND is not aligned with any political party nor is it opposed to foreign investment per se. We will, however, continue to insist that Australian AND foreign owned companies are taxed EQUALLY and that the laws of equal opportunity and unfair competition are enforced.