RankingCompany Total IncomeTaxable IncomeMarginTax PayableTax Rate
1GLENCORE INVESTMENT PTY LIMITED$27,929,635,183$108,107,9930.39%00.00%
2EXXONMOBIL AUSTRALIA PTY LTD$24,810,160,19000.00%00.00%
3ENERGY AUSTRALIA HOLDINGS LIMITED$23,901,332,940$51,800,099
0.22%00.00%
4MITSUBISHI DEVELOPMENT PTY LTD$14,169,387,36100.00%00.00%
5VIRGIN AUSTRALIA HOLDINGS LIMITED$13,318,353,00000.00%00.00%
6VODAFONE HUTCHISON AUSTRALIA PTY LTD$11,831,941,03200.00%00.00%
7SANTOS LIMITED$11,222,883,109$27,340,9380.24%$3,147,97511.51%
8GENERAL MOTORS AUSTRALIA LIMITED$10,357,307,07000.00%00.00%
9BHCA PTY LIMITED$9,914,941,527$37,131,3980.37%00.00%
10GRAINCORP LIMITED$9,728,771,192$29,941,8330.31%$4,652,94515.54%
11BNP PARIBAS$9,319,136,94500.00%00.00%
12POMI PTY LIMITED$9,230,497,423$1,323,8470.01%$397,15430.00%
13FLETCHER BUILDING (AUSTRALIA) PTY LTD$8,730,475,619$35,968,5430.41%$5,703,07315.86%
14PEABODY AUSTRALIA HOLDCO PTY LTD$8,678,625,13200.00%00.00%
15BROADSPECTRUM LIMITED$8,616,335,336$16,065,8030.19%00.00%
16CHEVRON AUSTRALIA HOLDINGS PTY LTD$8,262,405,59000.00%00.00%
17FORD MOTOR COMPANY OF AUSTRALIA LTD$8,262,405,59000.00%00.00%
18CITIC RESOURCES AUSTRALIA PTY LTD$7,876,392,11400.00%00.00%
19SABMILLER AUSTRALIA PTY LTD$7,726,971,39200.00%00.00%
20PUMA ENERGY (AUSTRALIA) HOLDINGS PTY LTD$7,323,761,85800.00%00.00%
21NISSAN MOTOR CO (AUSTRALIA) PTY LTD$7,255,251,607$22,471,2320.31%$476.000.00%
22SPOTLESS GROUP HOLDINGS LIMITED$7,231,123,102$12,613,5370.17%00.00%
23AMCOR LIMITED$7,055,763,985$17,362,1930.25%00.00%
24ERM POWER LIMITED$6,945,455,014$27,148,3180.39%$7,782,31328.67%
25BG INTERNATIONAL (AUS) PTY LIMITED$6,770,646,72700.00%00.00%
26HEALTHSCOPE LTD$6,651,396,744$11,652,5000.18%00.00%
27AGRIUM SP HOLDINGS PTY LIMITED$6,533,277,462$13,138,0920.20%00.00%
28FOOD INVESTMENTS PTY LTD$6,412,825,690$16,750,0450.26%00.00%
29ING BANK NV (SYDNEY BRANCH)$6,275,430,862$15,641,2770.25%$4,692,33130%
30MITSUBISHI MOTORS AUSTRALIA$6,195,436,833$1,912,5290.03%00.00%
31FOXTEL CABLE TELEVISION PTY LIMITED$6,006,084,50300.00%00.00%
32HYDROX HOLDINGS LIMITED$5,722,736,90500.00%00.00%
33UGL LIMITED$5,640,219,90900.00%00.00%
34NEW ZEALAND MILK (AUSTRALASIA) PTY LTD$5,623,430,259$2,598,7100.05%00.00%
35MIRVAC LIMITED$5,486,283,493$19,687,3390.36%00.00%
36TRAVELEX AUSTRALIA HOLDINGS PTY LTD$5,335,790,513$12,106,5430.23%$3,429,91228.33%
37VENNOR INVESTMENTS PTY LTD$5,204,621,53900.00%00.00%
38CSR LIMITED$5,190,938,10600.00%00.00%
39SWISS RE AUSTRALIA LIMITED$5,188,023,218$3,052,2470.06%00.00%

We are counting down the Top 40 Tax Dodgers. There are now three years of tax transparency data published by the Tax Office and we have used this data to work out which of Australia’s largest companies have paid the least tax, or no tax, on the highest incomes.

For large corporations, and in particular, multinationals, the main steps in avoiding tax are made by eliminating as much taxable income as possible; usually by sending it offshore in interest on loans, “service” fees or other payments to foreign associates. So, we have set a threshold. We have included only those companies which managed to wipe out 99.5 per cent or more of their taxable income over three years.

Qantas, therefore, is not on this list. Although it made $46 billion total income and paid zero tax over the three years, the airline had made large losses which were offset against profits. Many large corporations which have paid zero tax in ATO data, have legitimately made losses and have therefore built up “tax shelter”.

Many others however, such as ExxonMobil and EnergyAustralia, are on the list as they managed to eliminate all or most of their taxable income by “debt-loading” or other means of aggressive tax avoidance.

In response to the censorship scandal which has engulfed the ABC in recent days as the government sought to muzzle its corporate tax coverage, the Tax Office put out a useful statement on its transparency data.

Notable tax avoiders such as Google, eBay, Booking.com, Expedia and other digital giants are not on this list, not yet. They don’t even recognise income earned here; instead, they book Australian revenue directly to their associates offshore. They will be ranked in due course.

In this, the first iteration of michaelwest.com.au corporate tax rankings, we are going purely on the Tax Office data. These rankings are an organic process however and, as we consult with a council of advisers, they will change over time. We will also publish a list of Australia’s best corporate taxpayers, those companies who contribute most to the country in which they operate.

The Tax Office data is by no means perfect. In many cases, there are multiple entities with the same ultimate offshore parent reporting. One entity may pay zero tax, another may pay at the statutory 30 per cent rate. We endeavour to be fair in our reporting to recognise these issues.

The data also recognises trusts as well as companies. For trusts, it is the members (investors) rather than the trust who are required to pay the tax. In many cases however it is fair to recognise trust structures as tax avoidance structures as tax is often the main reason these vehicles have been structured via trusts.

Companies are welcome to debate their rankings or to touch base to clarify or defend their tax practices. We will append or link these submissions.

The data used in our analysis has been obtained from the Australian Taxation Office and is available under tax transparency legislation.

Public support is vital so that this website can continue to investigate and publish stories that tell truth to power. Subscribe with a monthly contribution if you can, join our newsletter if you can not make a financial contribute, share and like posts.