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More than One Quarter of Big Companies Paid No Tax
The ATO said 27% of 4,299 large entities paid no tax, while total corporate tax payable fell $8.2 billion to $87.5 billion.
- On Thursday, the Australian Taxation Office released its 10th corporate tax transparency report, finding 1,149 large companies paid no income tax in 2024-25, representing 27 per cent of the 4,299 entities analyzed.
- Mining, energy, and water companies remained the largest contributors to the $87.5 billion corporate tax haul, despite paying $35.9 billion—a 25.8 per cent decrease from the prior year driven by lower commodity prices.
- ATO Acting Deputy Commissioner Michelle Sams noted that a nil tax result does not automatically imply wrongdoing. "It's important to remember that a nil tax result doesn't automatically imply wrongdoing," Sams said, noting companies may legitimately use accounting offsets.
- Assistant Treasurer Daniel Mulino defended the system, stating Australia leads in corporate tax compliance. "Paying the right amount of tax is not only a legal obligation, it's a crucial part of supporting the services and infrastructure that Australians rely on every day," Mulino said.
- To combat profit shifting, the ATO's Tax Avoidance Taskforce has collected $36 billion since 2016; Australia joined the OECD Global Minimum Tax deal, imposing a 15 per cent minimum rate to end the days of "no-tax havens.
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More than 1,000 large companies paid no tax in Australia, ATO reveals
Almost 30 per cent of large companies paid no tax in 2024–25, an Australian Taxation Office report reveals, resulting in the corporate tax amount payable dropping by $8.2 billion from the previous year.
·Ultimo, Australia
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Coverage Details
Total News Sources10
Leaning Left3Leaning Right2Center2Last UpdatedBias Distribution43% Left
Bias Distribution
- 43% of the sources lean Left
43% Left
L 43%
C 29%
R 28%
Factuality
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