The Australian Tax Office (ATO) has revealed the tax arrangements of Bruce Gordon’s regional broadcaster, WIN, as it continues its transparency push on the amount of corporate tax.
The ATO revealed that in the 2013-14 financial year, WIN, which is owned by Bermuda-based billionaire Gordon had total revenues of $307.3m and paid $10.9m in tax giving it an effective tax rate of 28.16% – putting it broadly in line with regional rivals Prime Media and Southern Cross Media.
The details come as part of an ATO data dump of 321 privately-owned companies with total income of $200 million or more, which were included with the names of some 1,500 leading companies – including 35 media and marketing companies – published late last year, which reported that the subsidiaries of billion-dollar enterprises Google, News Corp, Fairfax and holding group WPP paid well below 20% tax.
Amidst the broader list the likes of Google Australia continues to stand out, with the list reporting Google as having paid $9.2 million tax on total revenues of $357 million and a taxable income of $90 million during the 2013-2014 financial year, giving it a tax rate of 10%.
News Corp entities News Australia Holdings and News Australia Investments had combined revenues of $3.8bn and a taxable income of $97m, for which it paid $4.2m tax. Which would give News Corp a tax rate of 4%; however, back in December when the figure was published News Corp noted that its tax arrangements were ‘complex’ and that a previously claimed figure of around 4.5% is incorrect.
According to the figures published by the ATO, the tax rate for both Fairfax Media and WPP Australia Holdings is around 18%.