This year's report analyses aggregated data from the 2020–21 income tax returns of some of the largest corporations operating in Australia. It describes changes and trends in key headline figures for the population, as well as data by industry segment and ownership group.
The corporate tax transparency population includes:
- Australian public and foreign-owned corporate tax entities with total income of $100 million or more
- Australian-owned resident private companies with total income of $200 million or more
- entities that have petroleum resource rent tax (PRRT) payable.
Legislation specifies the type of information we are required to report on. In producing this report – for corporations that meet the population income threshold – we take the data from 3 labels in the tax return:
- total income
- taxable income
- tax payable.
Note: Data in the corporate tax transparency report is taken directly from tax returns at a certain point in time and does not reflect any intervention or compliance work after lodgment of the returns (including settlement outcomes).
Corporations can also publish their own reports about their tax positions through the Voluntary Tax Transparency Code.