Well TAFKAS never. In today’s AFR, Tony Boyd writing as Chanticleer suggested that:
It would be smart for the national cabinet to follow the lead of tech entrepreneur Mike Cannon-Brookes, who views the global recession as an ideal opportunity to expand his business.
How do you say it …. HELL NO.
Now is certainly not the time for the National Cabinet to expand it’s business.
During the financial crisis Atlassian, in effect, offered one of its key software platforms used by business customers for free. Cannon-Brookes says this hit revenue in the short term but it underpinned a decade of expansion.
Yes. Get’em liking your product, like welfare, and when they are hooked, milk it for “a decade of expansion“. Yeah. No again.
And another thing says Canon-Brookes:
We started hiring as much as we could in a weaker environment. As other people were letting staff go we were hiring.
Yeah. No again. Australian governments already employ 4 times the population of Tasmania. No more no how.
Perhaps, rather than lionising the bearded oracle, he and his very profitable company be treated as similar pariahs as the other tech companies that minimise their tax in Australia. In 2018:
Australian agile poster child Atlassian, which had a taxable income of $138 million on $1.04 billion in revenue.
Tech darling Atlassian paid zero tax in Australia despite drawing in more than $1bn in local revenue, after using research and development tax credits to offset $137m in taxable income.
The New York-listed software company was among the 21 per cent of 2000 large companies and multinationals operating in Australia that paid no tax during the 2017-18 financial year, according to the fifth annual report on corporate tax transparency, published by the Australian Taxation Office on Thursday.
Where is Emma Alberici?
It must be the beard and hat that confuses the journos.