The top tech players that paid zero Aussie tax in 2015-16

The top tech players that paid zero Aussie tax in 2015-16

Exxon said it had no taxable income as it has invested almost $18 billion during the past few years on major projects including Gorgon and the Kipper Tuna Turrum field.

The Australian Tax Office has released a report showing how much or how little companies pay their taxes.

The ATO said that, of those not paying tax, 219 entities reported taxable income but were able to deduct prior-year losses; 59 reported a taxable income but were also entitled to offsets, such as the research and development incentive; 127 entities reported an accounting profit but tax deductions were allowed at higher rates than for accounting; and 327 entities reported an accounting loss.

Other non-tax payers included Bluescope Steel ($4.9 billion in income), Sydney Airport ($1.3 billion), Toll Holdings ($5.1 billion), Transurban ($2.5 billion) and BNP Paribas ($4.5 billion).

The DPT will hit multinationals with global revenue of more than AU$1 billion and Australian revenue of greater than AU$25 million with a 40 percent tax on all profits.

Google Australia paid $16 million in tax for the year, off the back of taxable income of $121.9 million and total income of $501.8 million.

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Andrea Kaster. "There are so few side effects [to acupuncture] and it's non-addictive". That's what we would like to see, but, again, you can't really predict that.

Nokia Solutions and Networks Australia, meanwhile, paid $18,575 in tax from taxable income of $3.1 million and total income of $202.1 million, also less than the 30 per cent standard rate.

Seven West Media paid $53.5 million on a taxable income of $199 million.

"No tax paid does not necessarily mean tax avoidance", the ATO said.

It was the third year in a row that the firm had not paid tax despite earning more than $8 billion in income over the period.

In the latest report, Hewlett Packard is not listed, but Dimension Data, with a total income again of AU$1.2 billion, did not report a taxable income, and therefore did not pay tax during the 2015-16 financial year either.

In the coming years, according to Hirschhorn, the ATO's data is expected to reflect an estimated $7 billion each year of increased sales returned in Australia as a result of the operation of the MAAL and the restructures made by companies to avoid paying the DPT.

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