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Google, Amazon and other major digital platforms would be hit with an annual 3 per cent tax on their revenue in Australia by default under a Greens proposal to make Big Tech “pay their fair share”.
The policy, which would tip $11.5 billion into government coffers over the next decade, follows Parliamentary Budget Office modelling that reveals the top 16 tech companies operating are collectively making $27.6 billion in Australia each year.
The independent analysis, commissioned by the Greens, shows Google made more than $8.7 billion across its search and cloud services in the 2022-23 financial year, with the majority flowing from advertising.
Amazon’s eCommerce marketplace and cloud services, meanwhile, made the company $5.9 billion over the same period, while Microsoft and Uber both made $2.9 billion.
Greens Senator Sarah Hanson-Young
Announcing the new proposal on Thursday, Senator Sarah Hanson-Young said the Greens will “push for this policy after the election”, which is tipped to result in a hung parliament and could result in power sharing.
It comes as the government goes slow on charging Meta and Google if they do not pay publishers for news content amid threats of tariffs on US exports from US President Donald Trump.
Mr Trump issued a memo last month calling out the “one-sided, anti-competitive policies and practices” of Australia and other countries, saying the US would “no longer prop up failed foreign economies through extortive fines and taxes”.
But Senator Hanson-Young said that with those companies “paying very little tax” at present, “it’s time the tech giants and the billionaire tech bros paid their fair share back to the Australian community”.
Under the proposal, digital platforms earning more than €750 million (A$1.28 billion) in global revenue would be taxed at a rate of 3 per cent on earnings from digital services in excess of $20 million in Australia.
Digital services revenue covers any revenue made from advertising, online marketplace services, user data, social media and cloud services, netting approximately $11.5 billion by 2034-35.
Senator Hanson-Young said the new tax revenue could be “invested in essential public services” like expanding Medicare into dental care, or offer additional cost of living relief to Australians.
“We know this works overseas and it can work here. At least 12 other countries already have a Digital Services Tax, including the United Kingdom, Canada, France, Italy, Spain, Austria, Portugal.”
“A digital services tax is the first step in reining in the astronomical power that big tech companies currently wield. Not only are they making super profits, they are harvesting and selling the personal data of millions of Australians…”
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