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