AUSTRALIA needs a lower, simpler, fairer tax system, with multinational companies paying their share, Prime Minister Tony Abbott said on a visit to the Gympie region yesterday.
"There are legitimate concerns about some companies, particularly multi-national companies, minimising tax in Australia and maximising it in other countries with different laws and lower taxes," he said.
"Every taxpayer should pay what is legitimately owed. It is important companies pay tax in countries where they make their money."
Mr Abbott said he could understand Western Australia being concerned about its share of GST revenue, with a drop in GST income and a slump in mining returns.