Sam Koslowski

So the government says you've got this new levy.

There are two things you can do, Mr. Social Media Company or Mrs. Social Media Company.

You can either pay that straight to us as the government.

We're then going to go away, make an independent body and distribute that sum of money to Australian media companies.

We don't know how that's going to happen yet.

We'll put that to another episode.

Or you can go to media companies yourself and you can do these commercial agreements.

And if you do those commercial agreements, we'll make sure that that levy tax bill gets reduced.

But it's not reduced one for one.

So if your tax bill is $2.25 million and you do a deal with the Daily Oz and you give the Daily Oz $1 million, we'll take off $1.7 million off that bill.

So if every dollar you give a media company, $1.7 comes off it.

And so if you wanted to reduce your tax bill, go and do deals yourself.

So that leaves social media companies in a really interesting position.

Yeah.

Which is the big fear here, right, is that as you've mentioned the Canada example, that is kind of the nuclear scenario that social media companies could take is you're not earning money in the country if you're not operating in the country essentially.

Yeah.

And there's so much that could happen between here and that.

That is almost seen by everybody as the last step into this.

Yeah.

If the law passes.