[{"data":1,"prerenderedAt":628},["ShallowReactive",2],{"active-categories":3,"blowouts":28,"story-\u002Fstories\u002Fato-tax-transparency-2024-25-companies-paid-no-tax":83,"related-\u002Fstories\u002Fato-tax-transparency-2024-25-companies-paid-no-tax":599,"surround-\u002Fstories\u002Fato-tax-transparency-2024-25-companies-paid-no-tax":617},[4,6,8,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27],{"category":5},"follow-the-money",{"category":7},"cost-of-living",{"category":9},"government-waste",{"category":9},{"category":9},{"category":7},{"category":7},{"category":9},{"category":9},{"category":5},{"category":9},{"category":9},{"category":7},{"category":9},{"category":9},{"category":9},{"category":7},{"category":5},{"category":7},{"category":9},{"category":9},[29,39,49,58,66,75],{"path":30,"title":31,"category":9,"date":32,"blowout":33},"\u002Fstories\u002Fbom-website-96-million-one-year-on","One year on: the BOM website that cost $96.5 million, not $4 million","2026-10-24",{"project":34,"originalCost":35,"currentCost":36,"announced":37,"note":38},"BOM website",4100000,96500000,"2025","$4.1m was the figure first given to the public.",{"path":40,"title":41,"category":9,"date":42,"blowout":43},"\u002Fstories\u002Fcross-river-rail-cost-blowout-19-billion","Cross River Rail was sold as a $5.4 billion project. The government now says it costs $19 billion","2026-10-25",{"project":44,"originalCost":45,"currentCost":46,"announced":47,"note":48},"Cross River Rail",5400000000,19041000000,"2017","Queensland Government figure (Oct 2025). It includes 25 years of tunnel maintenance and network works; Labor disputes counting them.",{"path":50,"title":51,"category":9,"date":42,"blowout":52},"\u002Fstories\u002Fhunter-class-frigates-27-billion-three-ships","Hunter-class frigates: sold as nine warships for $35 billion. We're now paying $27 billion for three",{"project":53,"originalCost":54,"currentCost":55,"announced":56,"note":57},"Hunter-class frigates",35000000000,45600000000,"2018","2020 Force Structure Plan estimate for nine ships. The program is now six ships; close to $27bn is allocated for the first three, including the Osborne shipyard.",{"path":59,"title":60,"category":9,"date":42,"blowout":61},"\u002Fstories\u002Finland-rail-cost-blowout-45-billion-parkes","Inland Rail was sold as a $10.7 billion project. It now costs $45.6 billion, and stops at Parkes",{"project":62,"originalCost":63,"currentCost":55,"announced":64,"note":65},"Inland Rail",10660000000,"2015","Both P90 estimates for the full Melbourne to Brisbane line. Only Beveridge to Parkes is now being built.",{"path":67,"title":68,"category":9,"date":42,"blowout":69},"\u002Fstories\u002Fnorth-east-link-cost-blowout-26-billion","North East Link was sold as a $10 billion road. It now costs $26 billion",{"project":70,"originalCost":71,"currentCost":72,"announced":73,"note":74},"North East Link",10000000000,26100000000,"2016","Victoria's December 2023 estimate. Includes the Eastern Freeway and M80 upgrades added since.",{"path":76,"title":77,"category":9,"date":42,"blowout":78},"\u002Fstories\u002Fsnowy-2-0-cost-blowout-25-billion","Snowy 2.0 was sold as a $2 billion project. It could now cost $25 billion",{"project":79,"originalCost":80,"currentCost":81,"announced":47,"note":82},"Snowy 2.0",2000000000,22200000000,"Target cost. Up to $25bn with contingency; transmission not included.",{"id":84,"title":85,"author":86,"bigNumber":87,"bigNumberLabel":88,"blowout":89,"body":90,"category":5,"date":42,"description":564,"draft":565,"extension":566,"featured":565,"focusKeywords":567,"image":568,"imageAlt":569,"meta":570,"navigation":571,"path":572,"people":573,"readingTime":574,"refresh":89,"seo":575,"shareImage":89,"sources":576,"stem":592,"tags":593,"updated":89,"__hash__":598},"stories\u002Fstories\u002Fato-tax-transparency-2024-25-companies-paid-no-tax.md","1,149 of Australia's biggest companies paid no income tax last year","Aussie Outrage","1 in 4","Large companies that paid no income tax in 2024-25",null,{"type":91,"value":92,"toc":553},"minimark",[93,97,108,114,121,126,191,194,198,205,216,406,409,412,415,425,429,440,444,447,450,453,456,465,469,472,500,509,516,520,527,536],[94,95,96],"p",{},"Every year the Australian Taxation Office publishes the income and tax bill of every company that earns more than $100 million here. On 1 October it released the figures for 2024-25.",[94,98,99,100,104,105],{},"There were ",[101,102,103],"strong",{},"4,299"," of these companies. ",[101,106,107],{},"1,149 of them paid no income tax at all.",[109,110],"big-stat",{"label":111,"source":112,"value":113},"Companies earning $100m or more that paid no income tax in 2024-25 (27%)","ATO corporate tax transparency report 2024-25","1,149",[115,116],"split-bar",{":data":117,":decimals":118,"source":112,"subtitle":119,"title":120},"[{\"label\":\"Paid no income tax\",\"value\":1149,\"highlight\":true},{\"label\":\"Paid some income tax\",\"value\":3150}]","0","Companies with income of $100 million or more, 2024-25","More than one in four paid nothing",[122,123,125],"h2",{"id":124},"who-they-are","Who they are",[127,128,129,142],"table",{},[130,131,132],"thead",{},[133,134,135,139],"tr",{},[136,137,138],"th",{},"Type of company",[136,140,141],{},"Number in the report",[143,144,145,154,162,170,181],"tbody",{},[133,146,147,151],{},[148,149,150],"td",{},"Foreign-owned",[148,152,153],{},"1,824",[133,155,156,159],{},[148,157,158],{},"Australian-owned private",[148,160,161],{},"1,882",[133,163,164,167],{},[148,165,166],{},"Australian public (listed)",[148,168,169],{},"593",[133,171,172,177],{},[148,173,174],{},[101,175,176],{},"Total",[148,178,179],{},[101,180,103],{},[133,182,183,186],{},[148,184,185],{},"Paid no income tax",[148,187,188],{},[101,189,190],{},"1,149 (27%)",[94,192,193],{},"Foreign-owned companies, the local arms of multinationals, are the largest group after private Australian companies. That's where the tax office says it is looking hardest.",[122,195,197],{"id":196},"the-biggest-earners-that-paid-nothing","The biggest earners that paid nothing",[94,199,200,201,204],{},"Ranked by total income, these are the ten biggest entities in the ATO's data that had ",[101,202,203],{},"no tax payable"," for 2024-25.",[206,207],"bar-chart",{":data":208,":decimals":209,"note":210,"prefix":211,"source":212,"subtitle":213,"suffix":214,"title":215},"[{\"label\":\"Insurance Australia Group\",\"value\":17.78,\"note\":\"Reported $0.60bn taxable income, but no tax payable\"},{\"label\":\"AGL Energy\",\"value\":13.11,\"note\":\"Reported $0.51bn taxable income, but no tax payable\"},{\"label\":\"Ichthys LNG\",\"value\":9.68},{\"label\":\"Prudential Assurance Company Singapore\",\"value\":8.96},{\"label\":\"Singapore Telecom Australia Investments\",\"value\":8.32},{\"label\":\"CCCI Australia\",\"value\":7.73},{\"label\":\"EnergyAustralia Holdings\",\"value\":7.49},{\"label\":\"NBN Co\",\"value\":7}]","2","Figures are for single entities as they lodged, not whole corporate groups. Other companies in the same group may have paid tax.","$","ATO, Report of entity tax information 2024-25 (data.gov.au)","The top eight by total income in Australia, 2024-25, billions of dollars. Every one had $0 tax payable.","bn","The biggest earners that paid no income tax",[127,217,218,237],{},[130,219,220],{},[133,221,222,225,228,231,234],{},[136,223,224],{},"Company (as named by the ATO)",[136,226,227],{},"Total income",[136,229,230],{},"Taxable income",[136,232,233],{},"Tax payable",[136,235,236],{},"Response",[143,238,239,259,276,293,309,325,341,357,373,390],{},[133,240,241,244,247,250,253],{},[148,242,243],{},"Insurance Australia Group Limited",[148,245,246],{},"$17.78bn",[148,248,249],{},"$0.60bn",[148,251,252],{},"$0",[148,254,255],{},[256,257,258],"em",{},"Requested",[133,260,261,264,267,270,272],{},[148,262,263],{},"AGL Energy Limited",[148,265,266],{},"$13.11bn",[148,268,269],{},"$0.51bn",[148,271,252],{},[148,273,274],{},[256,275,258],{},[133,277,278,281,284,287,289],{},[148,279,280],{},"Ichthys LNG Pty Ltd",[148,282,283],{},"$9.68bn",[148,285,286],{},"Nil",[148,288,252],{},[148,290,291],{},[256,292,258],{},[133,294,295,298,301,303,305],{},[148,296,297],{},"Prudential Assurance Company Singapore (Pte) Limited",[148,299,300],{},"$8.96bn",[148,302,286],{},[148,304,252],{},[148,306,307],{},[256,308,258],{},[133,310,311,314,317,319,321],{},[148,312,313],{},"Singapore Telecom Australia Investments Pty Limited",[148,315,316],{},"$8.32bn",[148,318,286],{},[148,320,252],{},[148,322,323],{},[256,324,258],{},[133,326,327,330,333,335,337],{},[148,328,329],{},"CCCI Australia Pty Ltd",[148,331,332],{},"$7.73bn",[148,334,286],{},[148,336,252],{},[148,338,339],{},[256,340,258],{},[133,342,343,346,349,351,353],{},[148,344,345],{},"EnergyAustralia Holdings Limited",[148,347,348],{},"$7.49bn",[148,350,286],{},[148,352,252],{},[148,354,355],{},[256,356,258],{},[133,358,359,362,365,367,369],{},[148,360,361],{},"NBN Co Limited",[148,363,364],{},"$7.00bn",[148,366,286],{},[148,368,252],{},[148,370,371],{},[256,372,258],{},[133,374,375,378,381,384,386],{},[148,376,377],{},"Hochtief Australia Holdings Limited",[148,379,380],{},"$6.99bn",[148,382,383],{},"$0.06bn",[148,385,252],{},[148,387,388],{},[256,389,258],{},[133,391,392,395,398,400,402],{},[148,393,394],{},"Chevron Australia Downstream Holdings Pty Ltd",[148,396,397],{},"$6.84bn",[148,399,286],{},[148,401,252],{},[148,403,404],{},[256,405,258],{},[94,407,408],{},"\"Nil\" taxable income means the company reported zero or a loss: the law doesn't let the ATO publish amounts of zero or less, so those cells are blank in its data. Two of the top three, IAG and AGL, did report taxable income, of $600 million and $510 million, but still had no tax to pay. On the ATO's explanation, that happens when tax offsets cancel out the bill.",[94,410,411],{},"Further down the list, other well-known names with no tax payable include Hope Downs Marketing Company ($6.41bn in total income), Santos ($5.12bn), JBS Global Meat Holdings ($4.85bn), Mineral Resources ($4.81bn) and CSL ($4.76bn).",[94,413,414],{},"One of the ten is owned by taxpayers: NBN Co belongs to the Commonwealth.",[416,417,419],"callout",{"type":418},"info",[94,420,421,424],{},[101,422,423],{},"How to read this list."," The ATO reports each company as it lodged its tax return, not whole corporate groups. A group can have one entity with no tax payable and others that paid plenty, so a name on this list doesn't mean the whole group paid nothing in Australia. Each company can explain its result in a voluntary tax transparency report.",[122,426,428],{"id":427},"the-total-bill-went-down","The total bill went down",[94,430,431,432,435,436,439],{},"The companies in the report paid ",[101,433,434],{},"$87.5 billion"," in income tax, down ",[101,437,438],{},"$8.2 billion (8.6%)"," on the year before. Most of the fall came from mining, energy and water, which paid $12.5 billion less as commodity prices eased. The sector still paid the most, $35.9 billion, or 41% of the total.",[122,441,443],{"id":442},"doesnt-automatically-imply-wrongdoing","\"Doesn't automatically imply wrongdoing\"",[94,445,446],{},"The ATO is careful to say that paying no tax isn't the same as breaking the law. A company can legitimately pay nothing if it made a loss, is using up losses from earlier years, or claimed tax offsets such as the research and development incentive.",[94,448,449],{},"\"It's important to remember that a nil tax result doesn't automatically imply wrongdoing,\" ATO acting deputy commissioner Michelle Sams told the ABC. \"Many large businesses legitimately pay no income tax but we continue to scrutinise these outcomes closely.\"",[94,451,452],{},"That's fair. But it also means more than a thousand companies, each turning over at least $100 million in Australia, contributed no company tax in a year when households were paying more for almost everything.",[94,454,455],{},"And the share is falling slowly. When the reports began in 2013-14, 36% of large companies paid no tax. Twelve years later, it's still more than one in four.",[457,458],"line-chart",{":data":459,"note":460,"source":461,"subtitle":462,"suffix":463,"title":464},"[{\"x\":\"2014-06\",\"xLabel\":\"2013-14\",\"y\":36.4,\"label\":\"First report: 36%\"},{\"x\":\"2015-06\",\"xLabel\":\"2014-15\",\"y\":36.1},{\"x\":\"2016-06\",\"xLabel\":\"2015-16\",\"y\":36.2},{\"x\":\"2017-06\",\"xLabel\":\"2016-17\",\"y\":34.2},{\"x\":\"2018-06\",\"xLabel\":\"2017-18\",\"y\":32.1},{\"x\":\"2019-06\",\"xLabel\":\"2018-19\",\"y\":32.1},{\"x\":\"2020-06\",\"xLabel\":\"2019-20\",\"y\":33},{\"x\":\"2021-06\",\"xLabel\":\"2020-21\",\"y\":31.6},{\"x\":\"2022-06\",\"xLabel\":\"2021-22\",\"y\":30.6},{\"x\":\"2023-06\",\"xLabel\":\"2022-23\",\"y\":31.4,\"note\":\"From 2022-23, Australian-owned private companies with $100m or more are included (previously $200m), so the list grew from 2,713 to 3,985 entities.\"},{\"x\":\"2024-06\",\"xLabel\":\"2023-24\",\"y\":27.6},{\"x\":\"2025-06\",\"xLabel\":\"2024-25\",\"y\":26.7,\"label\":\"2024-25: 27%\",\"position\":\"below\"}]","Counts each year's own report. From 2022-23 more private companies are included, after the threshold for Australian-owned private companies dropped from $200m to $100m.","ATO, Report of entity tax information 2013-14 to 2024-25 (data.gov.au); Aussie Outrage analysis","Share of large companies with no income tax payable, by financial year","%","Twelve years of reports, still more than one in four",[122,466,468],{"id":467},"where-the-tax-office-is-looking","Where the tax office is looking",[94,470,471],{},"Ms Sams said the ATO runs 100 to 150 reviews and audits of large companies at any one time. Its focus for multinationals includes:",[473,474,475,482,488,494],"ul",{},[476,477,478,481],"li",{},[101,479,480],{},"Offshore financing:"," loans from a related company overseas, where the interest is deducted in Australia",[476,483,484,487],{},[101,485,486],{},"Offshore marketing hubs:"," selling Australian resources through a related company in a low-tax country such as Singapore",[476,489,490,493],{},[101,491,492],{},"Royalties paid offshore:"," payments to a related company overseas for the use of a brand, software or other intellectual property",[476,495,496,499],{},[101,497,498],{},"Data centres, cloud and AI businesses:"," \"Where we see big payments to related party offshore, we want to look to make sure,\" she said",[94,501,502,503,508],{},"Each of those is a way to move profit out of Australia legally, unless the price charged isn't what unrelated companies would agree. We explain how it works in ",[504,505,507],"a",{"href":506},"\u002Fstories\u002Fprofit-shifting-money-trail-chevron-rio-tinto","How to move a profit offshore",".",[94,510,511,512,515],{},"The ATO's Tax Avoidance Taskforce, set up in 2016, says it has collected ",[101,513,514],{},"$36 billion"," in extra tax since then. That's money that would not have been paid if nobody had checked.",[122,517,519],{"id":518},"why-it-matters","Why it matters",[94,521,522,523,508],{},"Company tax is a big part of the Budget. Every dollar that large companies don't pay is a dollar the government has to get from somewhere else: income tax, GST, or more borrowing on top of the ",[504,524,526],{"href":525},"\u002Fdebt-clock","national debt",[94,528,529,532,533,508],{},[101,530,531],{},"Your share:"," the $8.2 billion fall in large-company tax in one year works out to about ",[101,534,535],{},"$290 for every Australian",[94,537,538],{},[256,539,540,541,547,548,508],{},"Top photo: one of the Australian Taxation Office's buildings in Civic, Canberra (file photo, 2021). Photo: Nick-D, ",[504,542,546],{"href":543,"rel":544},"https:\u002F\u002Fcreativecommons.org\u002Flicenses\u002Fby-sa\u002F4.0",[545],"nofollow","CC BY-SA 4.0",", via ",[504,549,552],{"href":550,"rel":551},"https:\u002F\u002Fcommons.wikimedia.org\u002Fwiki\u002FFile:ATO_building_and_carpark_in_Civic_April_2021.jpg",[545],"Wikimedia Commons",{"title":554,"searchDepth":555,"depth":556,"links":557},"",2,3,[558,559,560,561,562,563],{"id":124,"depth":555,"text":125},{"id":196,"depth":555,"text":197},{"id":427,"depth":555,"text":428},{"id":442,"depth":555,"text":443},{"id":467,"depth":555,"text":468},{"id":518,"depth":555,"text":519},"The ATO's latest tax transparency report covers every company earning more than $100 million. More than one in four paid nothing. Here's what the numbers show, and why the tax office says it's not always a scandal.",false,"md",[],"\u002Fimages\u002Fato-building-canberra.jpg","A multi-storey Australian Taxation Office building in Canberra's city centre, with a car park in front",{},true,"\u002Fstories\u002Fato-tax-transparency-2024-25-companies-paid-no-tax",[],7,{"title":85,"description":564},[577,580,583,586,589],{"title":578,"url":579},"ABC News: ATO says 1,149 large companies paid no tax as it scrutinises AI firms (1 Oct 2026)","https:\u002F\u002Fwww.abc.net.au\u002Fnews\u002F2026-10-01\u002Fato-reveals-companies-that-paid-no-tax-as-fights-profit-shifting\u002F107204032",{"title":581,"url":582},"ATO: Corporate tax transparency report 2024-25 (published 1 Oct 2026)","https:\u002F\u002Fwww.ato.gov.au\u002Fbusinesses-and-organisations\u002Fcorporate-tax-measures-and-assurance\u002Flarge-business\u002Fin-detail\u002Ftax-transparency\u002Fcorporate-tax-transparency-report-2024-25\u002Fabout-the-corporate-tax-transparency-report-2024-25",{"title":584,"url":585},"ATO: Corporate entity net losses and nil tax payable, 2024-25","https:\u002F\u002Fwww.ato.gov.au\u002Fbusinesses-and-organisations\u002Fcorporate-tax-measures-and-assurance\u002Flarge-business\u002Fin-detail\u002Ftax-transparency\u002Fcorporate-tax-transparency-report-2024-25\u002Fcorporate-entity-net-losses-and-nil-tax-payable",{"title":587,"url":588},"data.gov.au: Corporate tax transparency datasets","https:\u002F\u002Fdata.gov.au\u002Fdata\u002Fdataset\u002Fcorporate-transparency",{"title":590,"url":591},"SBS News: See the full list: the biggest Australian companies paying the least tax","https:\u002F\u002Fwww.sbs.com.au\u002Fnews\u002Farticle\u002Fsee-the-full-list-the-biggest-australian-companies-paying-the-least-tax\u002Fkdgh1o7wg","stories\u002Fato-tax-transparency-2024-25-companies-paid-no-tax",[594,595,596,597],"corporate-tax","ato","multinationals","tax-transparency","fHTx8bWjfHx7U3hiCbYc1D6FbLnHcJfkIZ8gz90uSMo",[600,609],{"path":601,"title":602,"description":603,"date":42,"category":5,"author":86,"image":604,"imageAlt":605,"bigNumber":606,"bigNumberLabel":607,"readingTime":608,"featured":565},"\u002Fstories\u002Feast-coast-gas-exported-australians-pay-more","Three-quarters of east coast gas is shipped overseas. Australians pay export prices for the rest","Before the Gladstone LNG plants opened, east coast gas cost about $4 a gigajoule. Now it's around $14, and the regulator is warning of shortfalls. Follow the gas, and the money.","\u002Fimages\u002Fgas-curtis-island-lng.jpg","An aerial view of LNG plants being built on Curtis Island, with storage tanks on the shoreline near Gladstone","75%","Share of east coast gas production that is exported as LNG",6,{"path":506,"title":610,"description":611,"date":42,"category":5,"author":86,"image":612,"imageAlt":613,"bigNumber":614,"bigNumberLabel":615,"readingTime":616,"featured":565},"How to move a profit offshore: the 9% loan and the Singapore hub","Two real cases, one decided in court and one settled with the tax office for about $1 billion, show how multinationals can shrink an Australian tax bill. Follow the money, step by step.","\u002Fimages\u002Fsingapore-financial-district.jpg","The towers of Singapore's financial district seen across Marina Bay","~$1bn","What Rio Tinto agreed to pay the ATO to settle its Singapore marketing hub dispute",5,[618,623],{"title":619,"path":620,"stem":621,"description":622,"children":-1},"$70,000 to fix the wording on Metro Tunnel plaques","\u002Fstories\u002Fmetro-tunnel-plaques-70000-replaced","stories\u002Fmetro-tunnel-plaques-70000-replaced","Commemorative plaques for the Metro Tunnel were replaced after errors were found in their wording, at a reported cost of about $70,000. Nobody has said who got it wrong or who paid.",{"title":624,"path":625,"stem":626,"description":627,"children":-1},"The $15 billion question: what corruption on Victoria's Big Build may have cost you","\u002Fstories\u002Fbig-build-cfmeu-15-billion-corruption-estimate","stories\u002Fbig-build-cfmeu-15-billion-corruption-estimate","A senior barrister estimates criminal infiltration of the CFMEU added about $15 billion to Victoria's Big Build. The government disputes it. A premier has resigned, a royal commission is under way, and Victorians vote on 28 November.",1793586230217]