Re: Latest news on Speedrail

[dbromage@fang.omni.com.au (David Bromage)]

Tezza (tezza2000@dingoblue.net.au) wrote:

> "David Bromage" <dbromage@fang.omni.com.au> wrote in message news:G0by5.5
> > Tezza (tezza2000@dingoblue.net.au) wrote:
> > > "David Bromage" <dbromage@fang.omni.com.au> wrote in message
> news:UURx5.7
> > > > There is a common misconception that the government has to "subsidise"
> the
> > > > project. Remember the criteria was "no net cost to government" which
> means
> > > > they are not opposed to putting in money, such as in the form of tax
> > > > concessions or in kind contributions (such as the $600 million in kind
> > > > contribution from RAC), provided they get equal or more in return.
> >
> > > How are they going to get a return? Like all foreign companies it won't
> pay
> > > any tax.
> >
> > Leighton Holdings is an Australian company, and the Speedrail operating
> > company will also be an Australian company.

> Partly or mostly foreign owned, which means bullshit accountaing, no profit,
> no taxes paid.

Leighton Holdings is an Australian registered company. That means it pays
Australian company tax. Ownership does not determine where taxes are paid.

Where the profits go is another matter.

Cheers
David