This is a slight decline from the $1.16 billion paid by nine corporate entities in 2017–18, which Ms Saint said was primarily due to a fall in the oil price.
Australian public and foreign-owned entities have a higher portion of "nil tax payable" when compared to Australian private entities. Corporate entities with an income of more than $5 billion represent around 2.5 per cent of the corporate transparency population and account for around 55 per cent of tax payable .
58 entities reported a taxable income but were also entitled to offsets at least equal to the tax otherwise payable