One thousand Australian companies paid no income tax in 2024/25 despite
One thousand Australian companies paid no income tax in 2024/25.
One thousand one hundred and forty-nine large Australian companies paid no income tax in 2024/25, even though some earned billions in revenue. Gas producer Santos received $5.1 billion in income yet paid no income tax for an 11th consecutive year.
Singtel, Optus's owner, paid no tax on $8.3 billion of income. The Australian Taxation Office said four thousand two hundred ninety-nine firms with reported income over $100 million paid a combined $87.5 billion, down $8.2 billion from the previous year.
The drop was mainly due to miners' falling profitability as coal, lithium and iron ore prices weakened, cutting mining tax by more than $12.5 billion. The proportion of large companies paying no tax fell from 28 to 27 per cent.
- 1149 large firms
- Companies paying no tax
- More than 12.5 billion dollars
- Mining tax drop
Why it mattersCompanies paying no tax reduces government revenue for services and infrastructure, even though it may be legally permitted.
AustraliaFewer tax dollars from large companies mean less funding for hospitals, schools and infrastructure that Australians rely on.
Corroborated byabc.net.au
✓ Claims checked against the source. checked 3 h ago
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