‘Astounding’: A peek into the tax affairs of partners at the consulting giants

The Australian Taxation Office has opened its books – as much as it ever does – this week on the tax rates paid by the very well-remunerated partners in the embattled consulting firm PwC and fellow consulting giants Deloitte, EY and KPMG that comprise the “Big Four”.explained that he didn’t have the resources to delve into the tax affairs of each of the about 2900 partners in the four firms in an effort to provide a big sweep answer to Pocock’s questions.

Another $1 billion was paid out to partners by “service trusts” and other entities associated with the firms. Those payments, Hirschhorn explained, would only rarely appear on the tax return of the individual partner.“In PwC alone in 2022 FY there were 312 partners who were earning over $800,000 and stood to gain significant tax advantage through their use of family or service trusts to divert portions of their income,” the South Australian senator said.

On the record, PwC weren’t interested in commenting but pointed us towards their annual transparency report which notes their partners pay an average tax rate of 37 per cent.But a KPMG spokesperson said: “We have strong governance and policies in place to help ensure that tax affairs are conducted in accordance with ATO policy and relevant laws and regulations.

But the book’s publisher, HarperCollins, said on Wednesday that the book’s publication and review copies would not be made available as planned.promoting the book. She mentioned that chapter 23 explored Baron Cohen’s behaviour towards her, though at that point he had not yet been identified.

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