The Australian Taxation Office (ATO) has published its Corporate Tax Transparency Report for 2022-2023, featuring data on the specified population on 1 November 2024.

This year’s Corporate tax transparency report analyses aggregated data from the 2022–23 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:

  • any corporate tax entity with a total income equal to or exceeding AUD 100 million
  • entities that have petroleum resource rent tax (PRRT) payable.

Highlights for 2022–23

  • There are 3,985 entities in this year’s population, representing a net increase of 1,272 entities (46.9%) from 2021–2, and 1,040 entities are attributable to the lower total income threshold applying for Australian private entities from the 2022–23 income year.
  • Total income for 2022–23 was AUD 3,138.4 billion, an increase of 23.3%.
  • Taxable income was AUD  380.1 billion, an increase of 11.3%.
  • Tax payable was AUD 97.9 billion, an increase of 16.7%.
  • Foreign-owned entities accounted for 41.3% of this year’s corporate transparency population and 41.5% of tax payable.
  • Australian public entities accounted for 15.1% of this year’s corporate transparency population and 47.9% of tax payable.
  • Australian private entities accounted for 43.6% of this year’s corporate transparency population and nearly 10.6% of tax payable.
  • Australian private entities with income between AUD 100 million and AUD 200 million accounted for 26.1% of the total corporate transparency population, 4.6% (or AUD 142.9 billion) of total income, 2.4% (or AUD 9.2 billion) of taxable income and 2.5% (or AUD 2.5 billion) of the total tax payable.
  • Entities with income of more than AUD 5 billion represented 2.2% of the corporate transparency population and accounted for 61.6% of tax payable (AUD 60.4 billion).
  • Entities with income of between AUD 250 million and AUD 5 billion represented 42.1% of the corporate transparency population and accounted for 31.7% of the tax payable (AUD 31.1 billion).
  • Medium entities – those with income of less than AUD 250 million – represented the largest portion (55.7%) of the corporate transparency population and accounted for only 6.6% of the tax payable (AUD 6.5 billion). The increase in the number of medium entities in this year’s corporate transparency population is due to the lowering of the total income threshold for Australian private entities.
  • Tax payable in the corporate transparency population was again dominated by the Mining, Energy and Water segment at 55.9% (AUD 54.7 billion) of the total. This year the Mining, Energy and Water segment increased by AUD 12.5 billion (29.5%) on last year.
  • Approximately 31% of entities paid nil tax (14% incurred an accounting loss, 7% incurred a tax loss, 2% utilised offsets, 8% utilised tax losses from prior year).
  • PRRT payable decreased 6.5% from AUD 1,996.6 million last year to AUD 1,867.1 million this year.