Global digital platforms collectively earn more than $26 billion each year in Australia, according to analysis by the Parliamentary Budget Office for the Greens political party.
The Greens want the technology players to pay an extra tax of 3% on anything earned over $20 million.
The policy would bring in $11.5 billion in revenue over the medium term, according to independent analysis from the Parliamentary Budget Office.
The Greens say companies that trade in Australia need to pay tax on the money they make in Australia. Global tech giants are making billions of dollars in revenue in Australia while paying very little in tax, the political party says.
The Parliamentary Budget Office analysis of digital service revenue shows that in 2022-23Google raised more than $8.7 billion, Amazon almost $6 billion, while Microsoft and Uber both earned over $2.9 billion.
“It’s time the tech giants and the billionaire tech bros paid their fair share back to the Australian community,” said Sarah Hanson-Young, Greens spokesperson for Communications.
“A tech tax would raise approximately $11.5 billion over the medium term which could be invested in essential public services, like dental into Medicare and cost of living relief.
“We know this works overseas and it can work here. At least 12 other countries already have a Digital Services Tax including the UK, Canada, France, Italy, Spain, Austria, Portugal.
“A digital services tax is the first step in reining in the astronomical power that big tech companies currently wield. Not only are they making super profits, they are harvesting and selling the personal data of millions of Australians and ripping off Australian journalists and creators.
“These big foreign owned corporations make huge profits off Australians and resist regulation at every turn. It’s time they paid their fair share of tax.
“With a power sharing Parliament likely, the Greens will push for this policy after the election.
“We need to stand up for our national interest against Donald Trump’s billionaire oligarchs like Zuckerberg, Musk, and Bezos.”
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