Population growth
There are 4,110 corporate entities in the 2023–24 corporate transparency population, with tax payable of $95.7 billion. Compared to 2022–23, this represents a:
- net increase of 125 entities (3.1%)
- decrease in tax payable of approximately $2.2 billion (2.3%).
There was a significant increase (46.9%) in the population last year due to the lowering of the total income threshold for Australian private entities to $100 million. The 3.1% increase this year represents a return to longer term trend growth.
Figure 1 shows the corporate transparency population growth over the last 5 years. The Australian private entities with income between $100 million and $200 million have been highlighted in the chart to show the effect of the lower income threshold for eligibility (which took effect last year).
Figure 1: Corporate tax transparency population, growth over 5 years
Ownership
Australian private entities accounted for 44.2% of the corporate transparency population in 2023–24. This is followed by:
- Foreign-owned entities which accounted for 41.7%.
- Australian public entities which accounted for 14.2%.
Figure 2: Corporate entities by ownership segment, 2023–24
Industry segment
Wholesale, Retail and Services (WRS) is the largest industry segment with 2,233 entities or 54.3% of the corporate tax transparency population. This is followed by:
- Manufacturing, Construction and Agriculture (MCA) with 1,006 entities (24.5%).
- Banking, Finance and Investment (BFI) with 444 entities (10.8%).
- Mining, Energy and Water (MEW) with 343 entities (8.3%).
- Insurance (ISR) with 84 entities (2.0%).
Exits from the population
In 2023–24, 495 entities exited the population while 620 entities were new entrants.
Entities may exit the population because they:
- restructured or joined a tax consolidated group during the year (or both)
- reported income below the transparency thresholds
- had not yet lodged or had lodged a company tax return that wasn't processed by the cut-off date for the report (18 August 2025)
- weren't required to lodge a company tax return due to deregistration.
Figure 3 shows the reasons for entities exiting the population this year.
We follow up entities that don't lodge returns as part of our non-lodgment program. Entities that fail to lodge are subject to lodgment penalties and compliance action.
Figure 3: Exits from the corporate transparency population, 2023–24