HOW DO COMPANIES GET AWAY WITH NOT PAYING TAX?
* Taxable income may be $0 depending on impact of "adjustments" such as income not being assessable under tax law, expenses being tax-deductible and tax losses being carried forward.
* Tax payable is reduced by tax offsets such as franking credits for dividends received and credit for foreign taxes paid.
* Special rules apply to calculate tax paid by some companies, such as insurance firms.
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