Big Australian Companies Paid $1 Billion Less in Taxes (Correct)

Australia’s tax take from large companies declined by more than A$2 billion ($1.3 billion) in the last financial year despite a rise in their incomes, according to a new report.

Large companies contributed A$95.7 billion in tax in 2023-24, the second-highest amount on record, the Australian Tax Office said in its corporate tax transparency report Thursday.

It represents a 2.3% decrease in tax paid by big companies compared to the previous year despite their total income rising 4.7% to $3.28 trillion.

• Australia’s report examined the tax group earning A$100 million or more, along with ...