Mining pays more tax than all other Australian sectors combined
For the third consecutive year, the Australian mining industry has paid more tax than every other sector of the economy combined.
Figures released in this week's ATO Corporate Tax Transparency Report confirm that mining remains the nation’s biggest taxpayer, delivering A$65-billion in company tax and royalties in 2023/24.
This contribution – made despite weaker commodity prices and global uncertainty – highlights the resilience of the industry and its central role in funding vital services such as health, education and infrastructure, while also supporting jobs and communities.
“Despite a decrease in tax payable reflecting weaker commodity prices which impacted profitability of major producers in the sector, 2023/24 is the third year in a row that the mining sector paid more tax than all other sectors combined," commented ATO assistant commissioner Michelle Sams.
Of the total contribution, the industry paid A$38.1-billion in company tax and A$26.9-billion in royalties to state budgets, according to EY’s 'Royalty and Company Tax Payments' report.
Mining companies also dominate the list of Australia’s largest taxpayers, with Rio Tinto and BHP leading more than half of the top 20 contributors.
“This extraordinary tax effort demonstrates why supporting mining is essential to sustaining jobs, regional development and the services Australians rely on – from hospitals and schools to the NDIS and PBS,” Minerals Council of Australia CEO Tania Constable said.
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