> ... there’s the withholding tax [News Australia Holdings] pays on interest it pays to a News Corp associate offshore, which News likes to lump in with income tax.
(AFR is Fairfax / Channel 9, take that what you will.)
> deliberately run at about breakeven, it's a political tool, not a money-making enterprise.
Well, that's worse, or at least no better, and makes it much harder to defend the writing of new laws to protect it (except when you're the one both writing the laws and using the tool). Just writing that makes my skin crawl.
Admittedly, that's a different topic to tax avoidance though.
You're flipping a single-sided coin. Heads you lose, and that's the only option.