Woodside Paid A$583M in Australian Corporate Tax for 2018-19

Source: www.gulfoilandgas.com 12/10/2020, Location: Not categorized

Woodside’s Australian corporate income tax is paid by three entities: our 90%-owned Burrup Facilities Company Pty Ltd and Burrup Train 1 Pty Ltd, which reflect the joint ventures we operate; and Woodside Petroleum Ltd.

The data reported in the Australian Tax Office (ATO) 2018-19 Report of entity tax information shows that in respect of the financial year ended 30 June 2019, the three Woodside corporate entities had combined taxable income of A$3.9 billion and income tax payable of A$583 million.

In addition to the ATO data, Woodside reports its Australian tax contributions for the previous calendar year on a cash paid basis.

In 2019, Woodside paid A$447 million in Australian corporate income tax and a further A$290 million in other taxes and royalties.

Woodside has paid more than A$10 billion in Australian taxes and royalties over the decade to 2020.

Woodside CEO Peter Coleman said the company had made a significant contribution over many years.

“We are a proud Australian company and we do the right thing when it comes to paying our taxes in Australia.

“As one of the country’s largest taxpayers, Woodside is subject to the ATO’s Justified Trust program, where we have obtained the highest assurance rating. This achievement – attained by only 30% of the top 100 taxpayers - means that the ATO is assured that Woodside is paying the right amount of income tax.

“We value the trust of our employees, contractors, suppliers and customers, and we know that transparency and accountability are core to maintaining that trust,” he said.


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