In Australia’s 2023-24 fiscal year, over 1,000 large companies earned $3.3 trillion but paid no corporate tax, despite strong compliance and improved enforcement.

In Australia’s 2023-24 financial year, over 1,000 large companies—28% of the total—paid no corporate tax despite earning $3.3 trillion in combined income. Major firms including Optus (Singtel), JBS, Virgin Australia, Netflix, and Transurban reported billions in revenue but zero tax liability, with reasons cited including past losses and poor trading conditions. The mining and energy sectors remained top contributors, with Rio Tinto and BHP Group leading in payments, though overall tax collections dipped due to lower commodity prices. The Australian Tax Office reported strong compliance, with 94.1% of tax paid voluntarily, and the government credited increased enforcement and $3 billion in investments for improved collection efforts.