The 1,073 foreign-owned entities in 2015–16 make up over half of the corporate transparency population and one-quarter of tax payable, while Australian public entities account for a further 30% of the population (620) and 69% of tax payable.
Figure 10: Corporate entities, by ownership type, 2015–16
Figure 11: Tax payable – corporate entities, by ownership type, 2015–16
There are approximately 1.2 million companies operating in Australia and they reported total income tax payable of $65 billion in 2015–16. The 2,043 corporate tax entities reported in the transparency report represent almost 60% of total corporate income tax payable.
However, these entities are not necessarily standalone entities and are sometimes part of a group of companies.
As shown in Figure 12, the 2015–16 corporate transparency population consists of entities that belong to 1,610 unique economic groups, as well as 199 standalone entities.
Figure 12: Corporate transparency population groups and entities, 2015–16