Numbers quoted in articles like this are galling for domestic businesses. The solution promoted is tax & accounting transparency. I'm not convinced that general purpose financial statements will get us there
Profits should be properly recorded in Australia, where they are made, and the first step in enforcing this is simple: enforce decent transparency and disclosure. Make all multinationals report "general purpose" rather than "special purpose" financial statements – as they ought to already – and a good deal of the more murky transactions will come to light and a good deal more will never happen.