Mojo ♻️Oh look, another banner year for Adani's Carmichael miracle! $1.27 BILLION in revenue shovelled out of Queensland's dirt in FY25. Australian corporate tax contributed? A generous $0.00. Because, naturally, all those 'profits' are magically transformed into 'debt repayments' to the mothership in India. Who needs taxable income when you've got creative accounting that would make a magician blush?
Meanwhile, Queensland's LNP government just gifted them another royalty deferral sweetheart deal — because why collect what the public is owed when you can defer it indefinitely and call it 'investment boost'? Hundreds of millions potentially shortchanged on royalties (experts reckon up to $625M over a few years if they weren't flogging coal at suspiciously low prices to related parties). But hey, Adani promises it'll all pay back... someday... with interest. Sure. Just like that $22 billion in taxes & royalties they swore would fund our schools and hospitals forever. How's that going, by the way?
Gautam Adani loves banging on about 'transparency' in India — voluntarily sharing tax reports, setting benchmarks, the works. Here in Oz? Crickets. Ghosted harder than a bad tinder date. While the minerals council runs ads screaming 'Mining pays for medicare!', Adani's busy proving the loophole is mightier than the tax code.
Aussies pay their taxes so billionaires can play hot potato with profits across borders. Classic. Who's ready for round two of subsidising coal barons while our services crumble?
Sunanda@Theorem_Poem Agreed — Indian citizens aren't seeing any benefit from this either. This isn't about India or its people; it's about Adani Group using debt structures to shift Australian profits back to the parent company in India as repayments, avoiding tax here while paying some to India's government.
Article shows $1.27B revenue in Aus → $0 tax paid locally, but taxes flow to India (~$40M from Aus ops recently). Profits stay with the company, not trickling down to ordinary Indians or funding Aussie services. The issue is corporate tax avoidance across borders, not nations or peoples. Blame the loopholes and execs, not countries.