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Greens Propose 3% Tax on Tech Giants' Profits

3/8/2025

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Summary

Story summary

Australia's digital giants rake in over $26 billion each year but contribute little in taxes. The Greens are advocating for a 3% tax on earnings exceeding $20 million, which could raise $11.5 billion for vital public services. They emphasize the need for tech companies to pay their fair share, aligning with practices in 12 other nations. This initiative will be pushed after the election.

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Story summary

Australia's digital giants rake in over $26 billion each year but contribute little in taxes. The Greens are advocating for a 3% tax on earnings exceeding $20 million, which could raise $11.5 billion for vital public services. They emphasize the need for tech companies to pay their fair share, aligning with practices in 12 other nations. This initiative will be pushed after the election.