Gerard Rennick
@RennickGBR • 106,243 subscribers
Authorised G. Rennick, Chermside QLD 4032.
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“Netflix posted $1.47 billion in revenue in Australia in 2025, $1.35 billion of which was sent overseas as “distribution fees” to its parent entities. After its offshore fees, Netflix Australia had $119 million in revenue and $20 million in profit. It paid $16 million in income tax and paid a dividend of $41 million. This allows them to transfer vast amounts of money abroad, very little of which is taxable in Australia. Netflix had an effective local profit margin of 1.4 per cent of its total Australian revenue. “A distribution fee is paid by the company under this agreement, and the operating margin retained by the company is an arm’s length return in accordance with the Netflix Group’s transfer pricing policy,” the accounts say. There is no suggestion of wrongdoing by Netflix.” •••••••••••••• Globalists often talk about tariffs and how bad they are for free trade, but you rarely hear them complain about reverse tariffs whereby multinational companies can send profits offshore at tax rates much lower than onshore tax rates. Netflix has a local operating profit margin of 1.4% while their worldwide operating profit (see accounts in comments) was 28%. Multinationals get away with shifting so much money offshore because of our tax treaties allow them by setting withholding tax rates well below the onshore company tax rate. For example the withholding tax on royalties paid to the U.S. is just 5%. (See link below) Netflix can save 25% in every dollar it transfers offshore. So 25 cents on $1.35 billion transferred offshore is $338 million in lost company tax to Australia. To be fair to Netflix, some of the fees paid offshore should be offset by production costs but not at rate of 98.6% in the dollar. I.e 1.4% margin. is the only party that understands transfer pricing. We will apply a 25% withholding tax on all offshore payments that exceed the operating profit ratio of its worldwide entity.
Gerard Rennick63,657 Aufrufe • vor 6 Tagen
Yesterday Fair Work lifted the minimum wage by up to 6%. This is obviously very hard on small business but very much needed for people on a minimum wage. The national wage hike is a massive win for the Government, which collects 30% of the raise in new taxes. Workers get crumbs after inflation and business loses money unless they pass those losses onto consumers starting a deadly cycle of inflation. To stop this deadly cycle People First is advocating for a number of changes to fix the structural imbalances put in place by reckless governments over recent decades. These are: 1) Stop Government waste - in particular subsidies for renewables, gold plated bureaucrat pensions and NDIS profit gauging. This will fund income tax cuts and lower inflation. 2) Tax offshore profit shifting more so Australians pay less tax here. This will also level the playing field so that Australian businesses can compete with foreign multinationals and stimulate growth. 3) Create an Infrastructure Bank to fund Infrastructure that will provide another source of income for governments other than taxes. Increasing the number of power stations, dams and ports will also increase the supply of essential services driving down costs for businesses and workers. To find out more please see our policies at
Gerard Rennick19,487 Aufrufe • vor 3 Tagen
Just a follow up to this mornings post. One of Fauci’s co-conspirators was Australia’s very own Edward Holmes who has received millions of taxpayers dollars to engage in Gain of Function research. 🔬 Edward Holmes co-authored the notorious Origins of Covid paper in Lancet that dismissed the theory that Covid was created in a laboratory and instead insisted that the virus came from nature. When I asked the National Health and Research Council about Holmes involvement in the coverup and why they continue to award this guy millions dollars, the bureaucrat was allowed to give his opinion which was a violation of the Senate standing orders. Instead of being told to retract his statement, the Chair allowed it to stand and instead shut me down. It’s criminal what the Australian government did to the Australian people and it’s criminal that Edward Holmes isn’t behind bars. The fact that Fauci turned to Holmes to cover up the origins of Covid, a scientist on the other side of the world, so soon after the outbreak can only mean one thing - Edward Holmes was an intelligence asset who colluded not just with Fauci, but our Intelligence Agencies to cover up the origins of Covid. This tells us that rather than seek out the truth and defend Australians, our own Intelligence Agencies are working against the Australian people.
Gerard Rennick59,165 Aufrufe • vor 21 Tagen
The closure of rail services in regional Queensland is just another sad indictment on the state of our nation. While countries in Asia are building high speed rail and nuclear power plants, our governments can’t even keep existing services going with aging rolling stock. There’s money for the Olympics of course, but nothing for the regions that generate our wealth. The closure of the Westlander is particularly harsh because as the Chareville mayor quite rightly points out, regional towns like Chinchilla, Chareville and Cunnamulla were built on the back of rail. It’s not like the government has put money into roads either, with the Bruce and Warrego highways being virtual death traps. This debacle can be traced back to the privatisation of the Queensland rail coal trains back in the early 2000’s under the Bligh government. (Fun fact - Murray Watt was her chief of staff.) These coal trains generated income that was used to fund passenger services. The solution for this is to start funding the construction of infrastructure such as rail to generate income to pay for essential services. is advocating for an Infrastructure bank to fund this construction through domestic bonds rather than foreign debt. We are also advocating to start a military apprenticeship scheme to ensure that our children have the skills to build infrastructure rather than rely on foreign contractors that is being used for Snowy 2. It’s not rocket science - If we want to get our country back on track we have to get back on the tools and start building. No ifs, no buts.
Gerard Rennick14,504 Aufrufe • vor 5 Tagen
I’m out on my brothers property this week in Western Queensland with limited reception so taking a short break from politics. We came accross this guy this morning. At first I thought he might have been a venomous breed but Dad reckons he’s a python. He’s certainly much better looking than the kind found in Canberra. Anyone got any ideas?
Gerard Rennick132,774 Aufrufe • vor 2 Monaten
The cover up was real. The Government lied. People died. This week a career CIA Operations Officer just testified under oath: The COVID lab leak was a deliberate COVER-UP, and Dr. Fauci was in the middle of it. “I am a career CIA Operations officer… The Intelligence Community’s actions resulted in a cover-up.” - Intelligence leaders downplayed the lab leak on purpose. - Fauci intentionally rigged the process by stacking the deck with his conflicted buddies, the same “Proximal Origin” clowns who pushed the natural origin lie. - They knew it came from Wuhan. They hid it. - That lie was used to ram through emergency use mandates on experimental shots while crushing anyone who told the truth. Millions of lives destroyed. Trillions wasted. Small businesses gutted. Kids masked and isolated. All because the “experts” and the deep state didn’t want to admit they cooked this thing up and Fauci helped cover their rear end.
Gerard Rennick40,550 Aufrufe • vor 22 Tagen
The taxation regime of gas and oil exploration in this country is not understood which has led to an enormous amount of misinformation. Here are the facts: 1. Oil and gas companies pay 30 cents tax on their profits just like every other company in Australia. That means that Australians already have 30% ownership. 2. Oil and gas companies pay a super profit tax on their profits known as the Petroleum Resource Rent Tax. The PRRT has collected very little revenue to date for two reasons a) there has been an enormous amount of capital invested in getting these projects up resulting in large depreciation offsets and b) the gas was foolishly sold forward at very cheap prices when the projects were given the go ahead. A lot of these contracts will roll off over the next decade resulting in larger profits and a larger tax for taxpayers. 3. 70-80% of gas and oil exploration in Australia is unsuccessful. Offshore gas exploration is not a multi million dollar business- it’s a multi billion dollar business. The idea that taxpayers should fund 30% of offshore oil and gas exploration is absurd. The last person to come up with that idea was Gough Whitlam. Needless to say no banks would lend against such a proposition. has always had a policy to abolish the PRRT and replace it with a 5-10% royalty on Sales. Combined with the 30% company tax that will guarantee that Australians share in over 40% of the profits of any offshore oil and gas project. That’s an excellent return given taxpayers incur no risk. I’ve done up a table in comments showing the share Australians will receive based on operating profit margin before tax. David Pocock, the Greens and One Nation are all wrong on this. The formers 25% export tax will wipe out most of the profits made eliminating the incentive to further explore for gas. One Nation offering to fund 30% of exploration costs for mostly foreign owned companies will expose taxpayers to billions of dollars in subsidies with no guarantee of return. Australia desperately needs sensible economic reform. Unfortunately none of the parties in Canberra have a clue how to make this happen.
Gerard Rennick24,457 Aufrufe • vor 13 Tagen
There is no place in the Defence force for Welcome to Country. It’s absolute insult to ignore the sacrifices of our past and present servicemen, only to then acknowledge the “traditional owners of the land.” The new chief of the Army should acknowledge all troops past and present regardless of race and prioritise their welfare rather than woke ideology.
Gerard Rennick73,669 Aufrufe • vor 1 Monat
Keep your hands off our gold “In the rush to hoard stuff for a rainy day, there’s been scant discussion about the future of our existing mineral stockpile; the 80 tonnes of gold the Reserve Bank of Australia has sitting in vaults. The rapid surge in gold prices means the value of the RBA’s gold has doubled in Australian dollar terms over the past two years and more than tripled over the past seven years. Which makes it a great time to sell those 80 tonnes of gold for just over $18 billion of cash. The analogy extends to physical capital; what’s the point of having a gold stockpile if you never sell it?” ••••••••••••••• The AFR (no doubt acting as a proxy for Treasury) is arguing that Australia should sell its gold. This is a very dangerous thing to do. Some time in the future the U.S. dollar will stop being the world’s reserve currency and there will be reset of the monetary system. It’s highly likely that when this happens the new currency will be backed by gold. Those countries with the largest gold reserves will in the strongest financial position after reset. Gold is an appreciating asset, unlike bonds which depreciate due to inflation. That’s why central banks manipulate the gold price by artificially shorting it via paper contracts on the Comex to prevent individuals from accumulating it. Let’s not forget the U.S. outlawed the possession of gold in 1932 to prop up the paper markets. Articles like this remind us that the world’s financial system is on very shaky ground. Western government debt levels are unsustainable and the bond markets are on very shaky ground. Gold has always been insurance against reckless government spending/borrowing. Rather than sell our gold, the Australian government should be accumulating it. Any attempt by central banks to take our gold needs to be stopped stone cold dead. That includes bringing our gold back home, away from the clutches of the Bank of England.
Gerard Rennick23,209 Aufrufe • vor 16 Tagen
The budget failed to deliver significant income tax cuts to offset bracket creep that is devasting family budgets as a result of high inflation. For someone on a wage of $80,000, 4% inflation reduces purchasing power by $3,200 each year. The best Chalmers can do to help hard working Australians, is to offer a measly $275 temporary tax offset. The minimum CGT tax rate of 30% is wrong. Capital gains like any income should be taxed at the marginal rate. Low income earners are going to be hit hard by this measure. I could live with removing the CGT discount provided the extra tax revenue from that measure had been used to offset income tax rather than remove negative gearing. Negative gearing is more effective when income tax rates are high. If tax rates were lowered, then negative gearing would be become a more much ineffective tax strategy. Personally I’ve never been a fan of negative gearing, because you have to spend a $1 to get 47 cents back which leaves you 53 cents worse off in today’s money. There is no substitute for cutting income tax if you want to maintain a strong economy. Immigration is forecast to be 2 million over the next two terms of Parliament which is still too high. Yet again if Labor wants to improve housing affordability, why won’t they lower immigration? Debt levels are forecast to continue to increase which reflects on Labor’s inability to control government spending. People First will cut spending, cut immigration and cut taxes. See how at:
Gerard Rennick32,712 Aufrufe • vor 25 Tagen
“Australia's energy minister has accused the coalition of being unpatriotic, as he defended taxpayer-funded travel and staffing costs for a major climate conference. Chris Bowen is due to spend more than $150 million on the United Nations' 31st Conference of the Parties meeting, known as COP31, in his role as president of negotiations. In a Senate estimates hearing, environment department officials told Liberal senator Sarah Henderson the budget had allocated funding for 70 full-time equivalent staff ahead of the UN-run conference in November.” ••••••••••••••• When you see the money spent by bureaucrats on the climate agenda you start to see why they will never admit they are wrong. Destroying our economy is a lucrative business for the Canberra bureaucracy providing high salaries and free travel. They fiddle in the halls of power while our country burns. The rot needs to stop.
Gerard Rennick13,497 Aufrufe • vor 9 Tagen
“Ben Roberts-Smith: John Howard says no one is above the law. ‘I urge every Australian to respect the rule of law, the criminal justice system, and the accused’s right to a presumption of innocence.’ •••••••••••••• John Howard saying this really grinds my gears. He was the politician who sent Australian soldiers off to Iraq and Afghanistan for reasons that essentially turned out to be a pack of lies. Where was Howard when politicians were turning a blind eye to people being injured by the vaccine. Why wasn’t he calling for them to be held to account for their lies. Why doesn’t he hand himself in for sending our troops off to wars that had nothing to do with Australia and causing the unnecessary deaths of Australian soldiers. I strongly urge you to watch the longer version of this clip from around the 18:30 minute mark. The link is attached in comments. Curt Weldon is a former Republican Congressman and Vice Chair of the Armed Services Committee. He had access to the workings of the Intelligence agencies. Needless to say when he called out their corruption he was framed and lost office. Essentially the CIA knew that Bin Laden was in Iran and had cut a deal to ensure they had plausible deniability of his whereabouts. Weldon alleges the CIA were cutting deals for their own profit. If you consider the Iran contra affair this is entirely plausible. The whole shtick about going into Afghanistan to get Bin Laden was a lie, as was the chemical weapons of mass destruction lie. Our soldiers were being used as pawns so that higher powers could protect their interests in the Middle East (oil, money, territory) It also lends weight to General Wesley Clarkes claim about a premeditated plan to overthrow seven countries in the Middle East. If anyone should be on trial it should be our intelligence agencies who are in my view the most dangerous bureaucrats of all, along with gullible politicians like Howard who just repeat deep state propaganda with no scrutiny whatsoever or consideration for the lives of people impacted by their decisions.
Gerard Rennick56,200 Aufrufe • vor 1 Monat
“Women's Minister Katy Gallagher told The Australian this week that all available evidence showed "the sooner you get a child into early education or care, the better" doubling down on Monday to confirm this extended to children from zero to three. Labor is at odds with international experts over its stance on infants up to three years old being "better off" in childcare than with family members, while some parents have condemned the argument as "harmful" and “tone deaf". The criticism follows the government rejecting a proposal for childcare providers to be given more power to terminate staff thought to be posing a risk to those in their care, amid revelations of further abuse against children in the system last month.” ••••••••••••••••••••• Over the last few decades the major parties have undermined the rights of the individual in every aspect of their lives. There’s no greater example of this than childcare. Katy Gallagher is just one of many politicians who ridiculed me for trying to advocate for greater support for parents raising their children at an early age. The government’s insistence that children are “better off” in institutional settings from birth is a transparent attempt to subvert the family unit in favor of state-managed workforce participation. By prioritising economic output over the fundamental, bond between a mother and her child, this administration reveals its true goal: the further centralisation of power and the erosion of parental authority. This is the socialist playbook 101. Get children away from parents so the government can brainwash them to believe in the state over the family. If you want to fight to get your rights back sign up today at
Gerard Rennick20,574 Aufrufe • vor 19 Tagen
All tax evasion should be called out. Following up on yesterday’s post in regard to the taxation of offshore Oil and Gas companies it was pointed out that Oil and Gas companies can shift their profits offshore to avoid tax in Australia. That’s 100% correct, but it’s not isolated to just Oil and Gas companies. Offshore profit shifting is rampant amongst all multinationals. Why don’t the Greens or David Pocock have a 25% export tax on all profits sent offshore? Why can Pfizer, Meta etc send billions of dollars offshore to avoid paying tax here in Australia? Why can Australian companies especially banks, offshore jobs to India and the Philippines without paying any withholding tax. Why don’t renewable companies, 70% owned by foreigners have to pay a royalty on our sunlight and water? is the only party to have a policy on profit shifting and is the only party to have consistently raised these issues in estimates and the Senate. We will raise the withholding tax rate on profits transferred to treaty countries to 25% and on interest income paid to all countries to 30%. This will prevent capital from leaving Australia and ensure that profits generated domestically contribute to our economy, rather than being funnelled offshore. Additionally, an operating profit ratio test will be introduced to further strengthen transfer pricing rules and prevent the leakage of profits abroad. If you’re going to call out one industry for tax evasion then call out all companies. Otherwise you’re just demonising the industries you’re trying to destroy.
Gerard Rennick13,925 Aufrufe • vor 12 Tagen
Did you know: The mRNA in Moderna’s vaccine is three times heavier than the mRNA in Pfizer’s vaccine!? Furthermore the mRNA sequence between the two is also different. Why? Either there’s a right amount or a wrong amount of mRNA and a right sequence or a wrong sequence of mRNA. The fact that Moderna and Pfizer Inc. are using different vaccines but claim to make the same spike protein tells you one, if not both are playing games with your health here! Furthermore there is nothing speculative about asking why the vaccine causes myocarditis. It’s called “Do no harm.” Genuine medical professionals would never speculate as to the side effect of a medical treatment. #auspol TGA Australia
Gerard Rennick556,424 Aufrufe • vor 2 Jahren
Despite claiming the vaccine was effective in preventing infection, Pfizer can’t explain why over 10 million people in Australia caught Covid less than 10 months after opening international borders. The excuse by Pfizer that the virus mutated doesn’t cut it. Unlike other pathogens such as bacteria and double stranded DNA viruses (smallpox), single stranded mRNA viruses mutate very easily. That’s why the design of the vaccine in regards to efficacy was flawed from the start because it needed it build up resistance to all 29 proteins in the Covid virus (I said vaccine in the clip - my apologies). Instead the vaccine only protects against the spike protein meaning that there was no protection against the other 28 proteins. As a result, the moment the spike protein mutated the vaccine became ineffective against the new mutation. Not to mention the speed at which antibodies and T Cells dropped off at 35 days in regards to the original strain. Spending money on a vaccine with such a short immune response but significant and unknown safety risks is reckless. #auspol Jikkyleaks 🐭
Gerard Rennick551,543 Aufrufe • vor 2 Jahren
“House prices across picturesque coastal and regional Australia could be trashed under an insurance crisis, the prudential regulator has warned. A stress test of Australia's insurers has sounded the alarm on homes exposed to natural catastrophes, with the Australian Prudential Regulation Authority declaring banks are likely to stay away from houses that can no longer secure insurance. 40,000 households could lose insurance cover each year over the coming 25 years under a disaster pathway. It would likely leave nearly 1 in 4 Australian homes, or nearly 2.4 million households, with unaffordable insurance pricing, according to APRA. These homes will struggle to attract insurance, with APRA warning this would then result in a decline in banks lending on them and, as a result, a fall in prices. Banks typically require a homebuyer to secure insurance on a property when lending on it.” •••••••••••••••••• It’s bad enough the government has made housing expensive for Australians, but the cost of insurance is also a nightmare that needs to be resolved. The only way to solve this problem is to bring back a government insurance office that will eliminate the cost of reinsurance paid offshore. This will help lower the cost of insurance by up to 50%. People First Party is the only party that has restoring a National Government Insurance Office as a policy. If you would like to help us promote this policy please sign up today at
Gerard Rennick55,661 Aufrufe • vor 2 Monaten
“Australia’s migration boom helped drive a record $38.2 billion in money sent in overseas remittances last year, including $7.3 billion to India and $5.35 billion to China, according to new analysis. The two countries received nearly one third of all payments by migrants to their home countries in 2024, while Israelis in Australia sent the most per capita, the report by comparison site Money Transfer Australia found. “With net overseas migration expected to reach more than 1.3 million people between the 2023 and 2025 financial years … we believe remittance outflows from Australia will be even higher in 2025,” Mr Gous said.” •••••••••••••••••••• The Australian government needs to crack down on offshore profit shifting. There are three ways this is occurring: 1) Multinationals shifting interest, royalties and rent offshore to minimise their tax paid in Australia. 2) Immigrants particularly those on temporary visas transferring their wages back to home country 3) Companies outsourcing labor offshore and then transferring wages to those countries. All of these methods result in Australia losing jobs, profits and tax revenue. People First is committed to cracking down on this rorting of our wealth and has the knowledge to fix it. If would like to support a party with real substance and real solutions please consider signing up today at
Gerard Rennick126,040 Aufrufe • vor 6 Monaten
“Commonwealth Bank has laid off hundreds of workers in Australia and launched a hiring spree in India just weeks after recording a $5billion profit. The bank increased its India-based workforce by 21 per cent to 6,788 in the year to June 2025, a 138 per cent increase since 2022.” •••••••••••••••• More bad news on the economic front today with inflation coming in higher than expected. As usual the response from the pundits is that interest rates need to rise. Rather than impose more austerity on hard working Australians by lowering demand isn’t it time that the Government actually looked at increasing supply by building more infrastructure to improve productivity. Using the blunt instrument of manipulating interest rates is not solving structural imbalances in the economy including excessive government spending. Furthermore the government needs to stop service jobs going offshore. A week after the CBA announced another record profit, it’s been revealed they are sacking staff in Australia whilst recruiting staff in India. The CBA employs almost 7,000 staff in India which is just intolerable. People First intends to rectify these issues by abolishing the Indian Free Trade Agreement, restoring the Military Apprenticeship Scheme and implementing an Infrastructure Bank to fund the construction of Infrastructure. Sign up today at if you want to give our children a better future.
Gerard Rennick71,645 Aufrufe • vor 3 Monaten