Qantas and Virgin among 1,200 major companies that paid no income tax in Australia in 2022-23

  • 📰 GuardianAus
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 98%

Business News News

Business Business Latest News,Business Business Headlines

ATO finds 31% of large businesses reported nil tax paid as many companies deducted losses and used offsets to dial their bills down to zero

Qantas Airways and Virgin Australia paid no tax in 2022-23 after they were able to carry forward losses accumulated early in the pandemic.Qantas Airways and Virgin Australia paid no tax in 2022-23 after they were able to carry forward losses accumulated early in the pandemic.

A Canva spokesperson said the company complies fully with tax laws and regulations, paying millions each year in payroll tax, fringe benefits tax, and other contributions. Under pressure mining and services company, Mineral Resources, generated $5.64bn in income in 2022-23, but had a zero tax bill. Online retailer Kogan did not pay income tax in 2022-23. Its financial record shows that it recorded a loss that year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines