Yes VAA abide by the same taxation laws in Australia, but their investors don't. The foreign capital is made under different taxation laws and then invested into an Australian company that weakens International competition. So 4 competitors have ganged up on 1, not a one on one fight.
So by reducing the tax rate for Australian airlines to a level that is comparable to the foreign competitors(read Etihad, Singapore, Air NZ, Cathay, etc), then it doesn't matter how much foreign capital is invested into Virgin because QANTAS is competing on a level playing field with all airlines(also read all capital). At that point it becomes a fair fight for all.
profitable airlines, page-22
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