Mining companies are touting their contribution to the Australian public purse, having topped the corporate tax table again. Corporate Australia paid almost $100 billion in income tax in 2022/23, an increase of nearly 17 per cent on the previous year, the Australian Taxation Office revealed in its 10th annual Corporate Tax Transparency report. Despite the record level of receipts, underpinned by a $43 billion contribution from the mining sector, almost a third of businesses avoided a tax bill.
For the second year in a row, the “mining, energy and water” segment paid more tax than all other sectors combined, contributing 55.9 per cent of the total, an increase of $12.5 billion on the previous year. Mining companies make up more than half of the nation’s top 20 largest taxpayers, with Rio Tinto, BHP, and Glencore taking the top three spots. Woodside was the fifth-largest taxpayer in the country, paying more than $4 billion in combined income tax and petroleum resource rent tax.
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