Big Tech’s tiny tax bill, Elon v Altman goes to court & Mr Beat-Up’s “big catalyst” stock
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What is the main topic discussed in this episode?
Everything you're about to hear is for education and entertainment purposes only.
How are big tech companies minimizing their tax bills in Australia?
Whilst we are licensed, we're not aware of your personal financial circumstances. Any advice is general advice. Equitymates operates under Australian Financial Services Licence 540697.
What is the significance of the Elon Musk vs Sam Altman court case?
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What are the latest earnings results from major US companies?
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Who is Mr. Beat Up and what stock is he discussing?
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Big tech is dodging billions here in Australia. Musk and Altman are finally in court and Mr. Beat up is back with a stock that is down 65% in eight months.
What is the four-step stock checklist analysis?
Welcome to Equity Mates, a show where we explore what's possible in the world of investing. If you've just joined us for the first time, a huge welcome to our community. My name is Bryce, and as always, I'm joined by my equity buddy, Ren. How are you going?
I'm very good, Bryce. Very excited for this episode.
How could the FIFA World Cup impact stock performance?
Excited because it's not just you and I in the studio today. We actually have a third host today. Later in the show, we're doing Mr. Beat Up, where Simon from the team comes and pitches a stock that is down, but maybe not out. Yes. But Simon has co-hosted before when we've been away, and he was in the studio, so we said just jump in. Simon, how's it going? Good to be here. Yeah, literally told 30 seconds ago, you're joining for this segment.
No idea what we're talking about. Good to be here. You've got your finger on the pulse, though.
Good news for Simon. We will be covering one of his favourite topics, Elon Musk. So stay tuned for that. Well, no, don't stay tuned. Let's just get into it. Let's get into it.
News and Markets.
All right, gents, three news stories we're covering this morning. Big tech revenue is growing, but their tax bill doesn't seem to be growing in line with it. Elon Musk and Sam Altman, their day is in court, as I said in the opening. And some pretty positive numbers are coming out of the U.S. earnings season over in the U.S. So let's start with big tech.
You're a bit nervous because Simon's in the room. Yeah, Simon's putting me off. All right, well, let's start with big tech. So the Australian Tax Office shares numbers on how Australian entities are going, and we've got some numbers from the big tech's Australian subsidiaries. So Amazon, for starters, they've grown 50% in the past 12 months. They've grown from $8 billion in revenue to $12 billion in revenue, and that's across all of their divisions. They've got four... corporate entities that they report for in australia but just nuts the growth that amazon continues to drive but the reason we wanted to talk about these stories was two other big tech names google and meta between the two of them they transferred 11 billion dollars offshore in related party transfers and together only paid 140 million dollars in tax
Now, to be clear, this isn't illegal. This is the rules. It's the system. They're playing the game as the rules were written. But an example that the AFR wrote up about Meta. So Meta's Australian revenue came in at $1.8 billion, but they paid $1.5 billion to other overseas Meta entities, effectively reducing the profit and the tax on that profit that they have to pay.
It's unbelievable. This is why people talk about, well, there's somewhat of a push for the big tech tax. Yeah, I think there is anyway.
Yeah, it's like minimum tax in jurisdiction. Yeah, yeah, yeah. So where are they pushing it to? So like, for example, it's like Meta Singapore or Meta US, or actually probably more likely like Meta Puerto Rico owns the intellectual property rights.
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:04
2
How are big tech companies minimizing their tax bills in Australia?
0:04–0:16
3
What is the significance of the Elon Musk vs Sam Altman court case?
0:16–0:26
4
What are the latest earnings results from major US companies?
0:26–0:33
5
Who is Mr. Beat Up and what stock is he discussing?
0:33–0:51
6
Why has the discussed stock dropped 65% in value?
0:51–1:20
7
What is the four-step stock checklist analysis?
1:20–1:33
8
How could the FIFA World Cup impact stock performance?
1:33–34:05
Speakers
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