Top 500 groups
Privately owned and wealthy groups operate some of Australia’s largest and most successful businesses and have complex financial and legal arrangements. Top 500 private groups are those with over $500 million in net assets (regardless of turnover) or over $200 million turnover with over $250 million in net assets. It also includes private groups that are market leaders or groups of specific interest, irrespective of their turnover and net assets.
As at 30 June 2025, 425 private groups formed part of the Top 500 population, down from 435 in the previous year. Following changes made to the Top 500 criteria, the number of private groups in the Top 500 program will decrease further in the 2025–26 financial year.
Based on tax returns lodged for the 2022–23 financial year and corresponding third-party data, the Top 500 population:
- controls over $297 billion in net assets
- employs more than 680,000 people
- contributes over $11.5 billion in income tax and GST each year.
On average, a Top 500 group has:
- a group head aged 73 years old
- 31 entities, comprising
- 19 companies
- 8 trusts
- 4 other types of entities
- 470 employees
- total income of $291.6 million
- net wealth of $334.4 million
- income tax of $6.3 million
- net GST of $2.3 million
- PAYG withholding of $7.0 million.
Some figures have changed since last financial year as they are impacted by the number of groups in the population. This can vary due to changes in group wealth or turnover from economic and business conditions as well as group succession from one to several individuals leading to a distribution of wealth.
Given the economic size of these groups, even small errors can have a big tax impact. Their high profile means that their level of participation can influence community confidence, and perceptions of fairness, in the tax system.
Corporate tax transparency
Some companies in the Top 500 population are also included within the Corporate tax transparency reports, detailing income and tax payable data for large businesses for each year. From the 2022–23 financial year, this includes companies whose total income is equal to or greater than $100 million. These companies, together with all other entities in a Top 500 group, are reviewed as part of our ongoing assurance engagements.