Information Corp, Transurban and Santos are but once more Australia’s high tax dodgers, the newest tax information reveals, whereas the massive miners paid full freight.
Serial tax dodgers Information Corp, Santos, Qantas and Transurban as soon as once more didn’t pay any revenue tax in Australia in 2022-23, the newest Australian Tax Workplace tax transparency information reveals.
The information additionally reveals Australia collected simply $1.87 billion in Petroleum Useful resource Lease Tax (PRRT) that yr, regardless of surging international power costs. The outcome was far under forecasts within the price range of October that yr. Santos, which paid no tax and reported simply $19 million in earnings from its foremost holdings, at the very least paid $247 million in PRRT, whereas Woodside paid $936 million, largely from its Bass Strait oil fields, along with almost $2.6 billion in firm tax. Fossil gas large Shell paid no PRRT however over $1.55 billion in firm tax; Chevron paid no revenue PRRT however over $4 billion in firm tax.
Information Corp, which hasn’t paid tax in Australia since a token $8 million in 2015-16, reported almost $200 million in earnings however paid no tax. Transurban reported $4.6 billion in income, $46 million in earnings, and simply $136,000 in tax from one among its small Queensland subsidiaries. Qantas, utilizing tax losses from the earlier yr, reported over $19 billion in income however simply $402 million in earnings and paid no tax. IAG paid no tax on $15 billion in income and $150 million in earnings. Chris Ellison’s Mineral Assets earned almost $700 million in earnings however paid no tax.
The largest taxpayer was BHP: over $68 billion in income, $29 billion in revenue and $7 billion in tax; Rio Tinto reported $47 billion in earnings, $20 billion in earnings and $5.8 billion in tax. After them, by way of tax paid: Glencore, Chevron, Fortescue and Commonwealth Financial institution.
Tech giants Apple, Uber, Tesla, Microsoft, Google, Fb, Netflix and Amazon collectively reported $37 billion in Australian income, $2 billion in earnings and $587 million in tax — the majority of that from Apple, Google and Microsoft.
