Google's $12.7m deduction more than taxes paid
Google's Australian arm has received a tax deduction of $12.7 million - about three times the amount it paid in taxes.
The figures came as the peak body representing global tech firms, including Apple, Google and Microsoft, hit out at the government's efforts to bolster disclosure surrounding the amount of tax they pay here.
The Australian Information Industry Association said the government's efforts to single out global companies when it came to issues surrounding tax was "provocative" and could prompt some players to pull out of the local market, leading to job losses.
Figures revealed Google Australia reported a profit of $22.4 million for last calendar year, the US tech company's first profit here in four years. The result was struck on revenue of $269 million over 2012, accounts lodged with the corporate regulator show.
The reported profit will result in the company handing over $4.2 million to the Tax Office - up from just $74,176 the year before. This is despite industry estimates of advertising sold in Australia reaching as high as $2 billion a year.
The records also showed Google received research and development incentives of $12.7 million.
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