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The companies that made the most money – and paid the most tax

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Ten companies paid more than $33 billion in corporate income tax in 2020-2021, but more than 30 per cent of the top-earning companies paid none. AustralianTaxationOffice

Australia’s mining companies and banks were the largest corporate taxpayers, with the top ten handing more than $33 billion over to the government in the 2021 financial year.

According to the tax office data, BHP Group , Rio Tinto and Fortescue Metals paid the most corporate income tax in 2020-21. Commonwealth Bank, ANZ and NAB were the largest banking taxpayers, paying $3.1 billion, $1.6 billion and $1.3 billion respectively. Virgin Australia made slightly more than Qantas, at $6 billion, and also reported no taxable income. However, it was a step up for the company, which reported gross earnings of $5.1 billion the previous financial year.

Coles, which made $43.4 billion, reported a taxable income of $1.5 billion and paid 30 per cent of that in income tax. It was slightly below its 2019-2020 revenue of $45.6 billion.

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needs to change

Let’s blame and misdirect everyone’s attention away from corporate welfare and bang on about the unemployed, ppl with a disability, sole parents and marginally employed ppl holding us back. So gaslighted by these corporate leeches and their lobbyists.

You have one job JEChalmers & SenKatyG fix this absolute disgrace. Billions of dollars lost that could be used for services to Australians. End these obscene & deliberate tax rorts. AlboMP Bowenchris SkyNewsAust newscomauHQ abcnews 9NewsAUS 7NewsAustralia 10NewsFirstSyd

Qantas Corporate leeches.

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The companies that made the most money – and paid the most taxTen companies paid more than $33 billion in corporate income tax in 2020-2021, but more than 30 per cent of the top-earning companies paid none. rachelclun ColinJKruger The Companies that paid Zero rachelclun ColinJKruger The biggest thief is the American company Apple that pays $193m tax in Australia on $27b . not sure who calculates tax rates for them
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The companies that made the most money – and paid the most taxTen companies paid more than $33 billion in corporate income tax in 2020-2021, but more than 30 per cent of the top-earning companies paid none.
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