Abbott government pays Rupert Murdoch almost $1 billion, blowing the Australia’s budget

by veya_victaous Tue Feb 18, 2014 1:56 am

The single largest factor in the underlying deterioration of the federal budget announced by Treasurer Joe Hockey in December was a cash payout of almost $900 million to Rupert Murdoch’s News Corporation.

The massive windfall, revealed in the US group’s accounts a week ago in New York, was at a time when News Corp newspapers were highly critical of the budget and called for deep cuts.

The drama over the payout, one of the largest cash payments made by the Tax Office, played out behind the scenes during the federal election.

On July 25 the Federal Court of Appeal ruled against the Tax Office to allow News Corp to claim a $2 billion deduction from a series of paper shuffles between subsidiaries.

http://www.afr.com/p/business/marketing_media/news_corp_blew_the_budget_DFlluROVi0F6CV1fQ5UJvJ

http://www.zgeek.com/abbott-government-pays-rupert-murdoch-almost-1-billion-blowing-the-australias-budget/

by Beekeeper Tue Feb 18, 2014 3:17 am

The Federal Budget will be over $150 billion this year, as in the last couple of years...

A payout to News Corp. of less than a billion "pales into insignificance" besides the $4 billion+$ to the Mine owners, and a spare $couple of billion$ to the car industry last financial year..

The main reason for the "blowout" in this years budget, rather than simply concentrating on Hockey's profligate largesse and excesses alone, I believe, would largely lie with the Lib's having :

1. Promised to abolish the Carbon Pricing levies and the Mining industry "Super-profits" taxes ~ leading to more future shortfalls in expected income;
2. Giving even more tax breaks and rebates to their rich mates, making even more of a joke of the conservative's promises of managing things better.. ::happ::

I WROTE in the Newcastle Herald and Sunday papers before the last election, that if one chooses to look back in history, taxation rates and unemployment rates both peaked in the second half of our previous Tory regimes.

The very opposite of what the Murdoch press corps/Channel Nine/Channel 7/Faux_News are always peddling ~ and didn't the 'usual suspects' in the brain-dead coalition support corner jump up-and-down, frothing at the mouth..

Calling me a "liar" online and in the letters columns, and claiming that they always ran "balanced budgets" ~ the usual screeching Tory rhetoric... clown

by Ben Reilly Tue Feb 18, 2014 3:29 am

by Beekeeper Tue Feb 18, 2014 3:46 am

THAT looks just like me telling those Tory supporters to "get knotted and bugger off.." last year !!!

::lightsab::

by Ben Reilly Tue Feb 18, 2014 4:52 am

Beekeeper wrote:

THAT looks just like me telling those Tory supporters to "get knotted and bugger off.." last year !!!

::lightsab::

Don't mess with the pissed-off koala!

Totally off-topic, but does anyone else think Einstein looked a bit like a koala?

(Yeah, they do think that.)

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Abbott government pays Rupert Murdoch almost $1 billion, blowing the Australia’s budget

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Re: Abbott government pays Rupert Murdoch almost $1 billion, blowing the Australia’s budget

Re: Abbott government pays Rupert Murdoch almost $1 billion, blowing the Australia’s budget

Re: Abbott government pays Rupert Murdoch almost $1 billion, blowing the Australia’s budget