Economy
Rupert Murdoch’s News Corp is ATO’s top tax risk
The Australian Taxation Office has only one company in its highest risk category for tax avoidance – Rupert Murdoch’s News Corporation.
Four years ago, 13 of the country’s biggest companies were in Q1, the ATO’s highest-risk category for tax avoidance, but now only News Corp Australia remains, reflecting what is described as a secretive, aggressive approach to the ATO.
As the only company with a high-risk rating, News Corp faces continual audits and reviews.
News Corp declined to respond to questions by The Australian Financial Review about its tax-risk status.