Facebook has revealed its advertising revenue in Australia for the first time ever, and the numbers are enough to get Scott Morrison tickled pink.
At the end of 2016, Facebook netted $327 million in advertising revenue. This marks a massive increase from $33.6 million in revenue for 2015.
In line with the increased earnings, Facebook's income tax rose from $814,000 to $3.3 million.
The figures come as Facebook and other big hitters such as Google restructure their local operations, in response to the federal government's Multinational Anti-avoidance Law (MAAL) and the new Diverted Profits Tax.
The update means local advertisers are now managed by a sales team in Australia. Previously, these customers had a contractual agreement (whether they knew it or not) with Facebook Ireland.
Will the new laws make you more likely to advertise with Facebook in Australia? Let us know in the Comments.