My understanding is that Google is locally incorporated in australia, as you can see on this page[0], at least for Ads, likely other businesses. If you select Australia on there you will see Ads payments are made to "Google Australia Pty Limited".
[0] https://support.google.com/google-ads/answer/2375370?hl=en
The profits are routed as licensing costs around the world to end up in this or that low tax jurisdiction.
https://www.abc.net.au/news/2019-05-01/google-facebook-make-...
You're flipping a single-sided coin. Heads you lose, and that's the only option.
I always understood it's deliberately run at about breakeven, it's a political tool, not a money-making enterprise.
Well, that's worse, or at least no better, and makes it much harder to defend the writing of new laws to protect it (except when you're the one both writing the laws and using the tool). Just writing that makes my skin crawl.
Admittedly, that's a different topic to tax avoidance though.
> ... there’s the withholding tax [News Australia Holdings] pays on interest it pays to a News Corp associate offshore, which News likes to lump in with income tax.
(AFR is Fairfax / Channel 9, take that what you will.)