Robert McAnderson Author
Google Australia in loss – Where did Google Australia’s Profit go?
SEARCH engine and advertising giant Google Australia has posted a wider full-year loss of almost $4 million, despite a lift in revenue.
In a special purpose annual report for the year ended December 31, 2011, Google Australia posted a $3.93 million loss after income tax, down from $3.08 million in 2010.
Revenue from continuous operations was $201,124,310, up from $151,387,444 the previous year.
Gross assets for the wholly owned local arm were $116 million and income tax expenses slumped, from $1.128 million to $74,176.
Foad Fadaghi, research director at technology industry analyst firm Telsyte, said the results significantly undervalued the size of its Australian business, given the Google-dominated search market in Australia is worth about $1 billion alone.
”The revenue made from the Australian business is captured into other parts of the company’s structure,” Mr Fadaghi said. ”Whether or not they make a profit on the books is a function of accounting,” he said.
Back to Ireland perhaps? One of the lowest company tax havens in the world.
Take the profit out of Australia.
Pay not tax in Australia.
Generate a tax loss to offset future profits in Australia.
Google advertisers every cent of your advertising revenue leaves Australia and not one cent in Tax is paid in this country.
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