Show download pdf controls
  • Producing the report

    Under section 3C of the Taxation Administration Act 1953 we are legally required to report information about certain corporate tax entities. A corporate tax entity is defined in section 960–115 of the Income Tax Assessment Act 1997 and includes all taxpayers treated as corporations for tax purposes, for example:

    • companies
    • public trading trusts
    • corporate limited partnerships.

    From 2014–15, the reports have contained:

    • an alphabetical listing of Australian public and foreign-owned corporate tax entities and Australian-owned resident private companies
    • separate information for income tax and petroleum resource rent tax (PRRT).

    The Report of entity tax information takes information from returns, and amendments requested by the relevant entity, processed before 1 September of the year following the tax year being reported.

    If an entity lodges a return after 1 September their information will be published in the following year's report. The report of an entity's information for a given income year is final and is not updated to reflect later amendments.

    We report information for corporate tax entities that have lodged a tax return. The head company of a consolidated tax group lodges a single company tax return for the group. If an entity enters or leaves a consolidated group during the year, or transitions from one accounting period to another, its income year may be less than or greater than 12 months.

    If an entity's relevant labels show an amount of zero or less, we leave that field blank.

    Due to tax law confidentiality provisions, we cannot provide information beyond that which is in the Report of entity tax information. Entities and organisations named in the Report of entity tax information may choose to provide further context.

    Under the new voluntary tax transparency code for business, some companies do publicly disclose additional details of their tax affairs in their annual accounts. Adoption of this code is voluntary and intended to complement Australia’s existing tax transparency measures.

    See also:

    Report data sources

    We use the following tax return labels for the Report of entity tax information:

    • Total income – shown at income label 6S of the company tax return  
      • The amount to be written at income label 6S is an accounting system amount and generally corresponds to the relevant amount in the entity's financial statements for the income year.
      • It is a gross revenue figure (not a net profit amount) and may include exempt income, other non-assessable income and foreign source income.
      • Including these amounts increases total income relative to taxable income and accounting profit.
      • Total income does not include accounting expenses – the total income figure is similar to gross accounting revenue, not profit and it makes no allowances for the costs of earning income.
       
    • Taxable income – the amount shown at label 7T (taxable/net income or loss) of the company tax return  
      • If the amount is a loss, we will leave taxable income blank in the report.
      • If the entity is a resident, taxable income is assessable income derived from all sources less allowable deductions incurred in gaining that income.
      • If the entity is a non-resident, taxable income is assessable income derived from sources within Australia, plus income that is included on some basis other than having an Australian source, less allowable deductions incurred in gaining that income.
      • An entity's taxable income may include franking credits and non-deductible items that increase taxable income relative to accounting profit but will also reflect available concessions or deductions allowable for income tax purposes such as tax losses used from prior years that will decrease taxable income relative to accounting profit.
      • The inclusion of assessable amounts and allowable deductions to arrive at the taxable income reported, and the omission of expenses from the total income reported, means there is not a simple correlation between total income and taxable income.
       
    • Tax payable – the amount shown at label T5 of the company tax return  
      • This figure is determined by multiplying the taxable income by the 30% corporate tax rate and then deducting tax offsets, such as the research and development (R&D) incentive and franking credits.
      • Some corporate tax entities will have an amount of taxable income but no income tax payable due to these offsets. This is a function of our system and the way tax payable is calculated.
       
    • PRRT payable – the amount shown at label 25I of the PRRT return.
      Last modified: 11 Dec 2020QC 44476