A leak of financial data has exposed the dodgy deals and secret assets of some of the world’s richest people including 400 mega-wealthy Australians.
Known as the Pandora Papers, the data leaked to the International Consortium of Investigative Journalists (ICIJ) included 11.9 million files leaked from a total of 14 offshore service providers, revealing a myriad of dirty tricks the mega-wealthy use to cheat the tax system.
By using offshore service providers in tax haven countries, the world’s wealthiest can pay little or no tax, and easily hide finances from the tax office – at the expense of everyday workers who make up the vast majority of taxpayers.
While the Pandora papers include some shocking revelations, this practice of politicians, billionaires and celebrities avoiding and evading paying tax comes as no surprise.
The Morrison Government has failed for four years to close these loopholes and stop the ultra-rich from avoiding tax.
In 2016 a coalition of Australian organisations, including Australian Unions, demanded the Coalition government take action to end tax dodging practises that have robbed critical resources from the Australian budget. They urged the Government to outlaw the use of shell companies with concealed ownership and other means of tax avoidance and tighten regulations around corporate transparency.
Now, over four years later, the Pandora papers show that the Morrison Government has no intention of making Australia’s mega-wealthy pay their fair share.
While working Australian’s struggle to pay the bills, the Morrison Government is letting these millionaire tax cheats get off scot free.
Scott Morrison will hope that this just goes away. Just like he does with every scandal and crisis.
We can’t let that happen. We need to hold the rich and powerful – and the Morrison Government who enabled them – to account.
Everyone knows that tax avoidance is not a victimless crime. When mega-millionaires and billionaires avoid paying tax, it is everyday people that have to pick up the tab.