Australian companies have an average effective tax rate of 23% – well below the corporate tax rate of 30%

29% have an effective tax rate of 10% or less

14% have an effective tax rate of 0%

Increase fines for tax avoidance and extend laws to effectively cover the full range of corporate tax avoidance strategies.

Eliminate or restrict the use of stapled securities for tax arbitrage, commonly used by property trusts – many of whom are among the lowest tax contributors.

Ensure the ATO is adequately funded and staffed.

Support the OECD's action plan on on "base erosion and profit shifting".

Support the automatic exchange of information on tax matters between tax authorities of different countries.

The report by the Tax Justice Network, 'Who Pays for Our Common Wealth? Tax Practices of the ASX 200' raises a lot of questions about whether our top companies are paying their fare share. Due to limited information about offshore subsidiaires and where companies make their profits, it's hard to be sure of anything, and that's one thing that needs to change.With those limitations in mind,This amounts to a potential loss of billions in annual revenue compared to the 30% tax rate. In 2013, 57% of ASX 200 companies disclosed subsidiaries in secretive jurisdictions (tax havens) – but this could be much higher as reporting is not mandatory.