Apple cuts Aussie tax bill despite bumper revenues

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Apple cuts Aussie tax bill despite bumper revenues

Apple Australia has seen revenues rise a smidge to 1.9 percent while its tax bill fell almost 10 percent.

The vendor's local business reported revenue of $6.1 billion for the 12 months to 28 September 2013.

In documents filed with ASIC on Thursday, Apple pointed to "the release of new products such as the new iPhone 5 as well as the new iPads" for its growth.

Apple's gross profits also rose, up 7.3 percent to $529 million, but its profit before income tax fell 10.2 percent to $88.5 million

This helped Apple slash its income tax bill 9.2 percent to $36.4 million.

In comparison, Harvey Norman saw revenues of $1.3 billion for the 12 months to 30 June 2013 and paid out $43.4 million in tax.

JB Hi-Fi turned over $3.3 billion in revenue and faced a tax bill of $51.4 million.

While Apple Pty Limited's ultimate parent companies is Apple Inc in the US, its immediate parent is Apple Operations International, incorporated in Ireland.

A US Senate Enquiry has previously slammed Apple's tax dodge, which sees it channel profits into Irish-incorporated subsidiaries that had "no declared tax residency anywhere in the world.

Despite Apple's record revenue, not to mention the global attention on corporate tax dodging, this year's tax bill is its lowest in three years.

An Apple Australia spokesperson would not comment when contacted by CRN.

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