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

Australia’s mining companies and banks were the largest corporate taxpayers, with the top ten handing over more than $33 billion 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. Some companies that did not pay income tax included commodity and energy firms. Glencore Investment reported no taxable income from $14.5 billion in revenue, while oil company Chevron, with total revenue of $9.2 billion, paid $30 in tax. Chevron published its ownto explain that the company should have paid nothing as it still had $1.8 billion in losses that financial year, but it paid a nominal amount to “protect our review rights”.

A Shell spokesperson said the company complies with all its tax obligations, and despite being in a “heavy investment phase and net cash flow deficit” had paid about $5.6 billion in direct tax payments including royalties and levies over the 10 years to December 2020.– was also high on the revenue list but low on tax payments. It brought in $33 billion in revenue, coming in at number six, but paid just under $1.8 million in tax - ranking it 1404th by tax payment.

Discount supermarket chain Aldi increased its revenue from $9.6 billion to $10.7 billion in 2020-21 and paid $270 million in tax on its taxable income of $900 million.

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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. AustralianTaxationOffice Qantas Corporate leeches. 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 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.
Source: theage - 🏆 8. / 77 Read more »

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
Source: smh - 🏆 6. / 80 Read more »