By Allanah Sciberras,Editor,Nicholas Comino

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Embattled telco Optus made $8billion last year – yet this is the unbelievable amount of tax its owner paid to Australia

READ MORE: Optus fined $100million for exploiting hundreds of Australians

By NICHOLAS COMINO, NEWS REPORTER, AUSTRALIA and ALLANAH SCIBERRAS FOR AUSTRALIAN ASSOCIATED PRESS

Published: 16:02 BST, 2 October 2025 | Updated: 17:38 BST, 2 October 2025

Optus’s Singaporean parent company, Singtel, has been exposed for paying zero corporate tax in Australia in 2023/2024 financial year, despite pulling in a staggering $8.2billion in the same period.

The Australian Taxation Office (ATO) has released its latest transparency report, showing big businesses are improving at chipping in, having handed over more than $100billion in tax in 2023/24.

But, while the number of large companies paying nothing is at a record low, Singtel has managed to avoid paying a cent.

The news heaps further pressure on Optus, already under fire over a string of cyberattack and outage incidents over the last few years, including the latest in September in which the triple-zero emergency number was affected.

Other companies who paid no corporate tax in 2023/24 include Virgin Australia and CSL.

Assistant Treasurer and Minister for Financial Services Daniel Mulino said the tax office had previously undertaken action against Singtel in 2024.

However, Mulino said it would not be appropriate to comment on affairs of any individual taxpayer.

He stressed the tax situation was a separate set of issues from those raised in recent years regarding Optus.

Optus’ parent company Singtel paid zero corporate tax in financial year 2023/2024 (file image)

Mining and tech companies topped the list of corporate taxpayers according to ATO data

The report revealed the nation’s biggest corporate taxpayer was Rio Tinto, which forked out $6.3billion on an income of $52.8billion, followed by BHP, which paid $6 billion.

The big four banks paid a collective $10billion, with Commonwealth Bank paying the highest, at $3.4billion, followed by Westpac at $2.6billion.

Mulino welcomed the report, saying ensuring companies paid the right amount of tax resulted in key services being delivered.

Assistant Commissioner Michelle Sams said a dedicated task force established to crack down on businesses not paying tax was having an affect.

‘While there are legitimate reasons why a company may pay no income tax, the Australian community can be assured we pay close attention to those who don’t pay corporate tax and ensure that they are not gaming the system,’ Ms Sams said.

‘Australia has some of the highest levels of tax compliance of large business in the world with 94.1 per cent of tax paid voluntarily, and 96.3 per cent after ATO’s compliance actions.’

The tax office said the total taxes received from large corporations was $95.7 billion, marking the second-highest total recorded.

Ms Sams said the mining sector paid more tax than all other sectors combined, despite weaker commodity prices, which impacted the profitability of major producers in the sector.

The tax news is another hit for Optus, under fire for it’s triple-zero failures last month (stock)

Optus was also recently slugged with a staggering $100million fine after it was pursued by the consumer watchdog the ACCC.

The penalty was handed down after it was found Optus had preyed on hundreds of vulnerable customers.

In scathing remarks, the Federal Court branded the company’s conduct ‘predatory’ and ‘appalling.’

Judges found Optus pressured customers into signing up for phones and accessories they neither wanted nor could afford.

The case, launched by the ACCC last year, revealed that between 2021 and June 2023, a total of 429 people were ruthlessly pushed onto products and plans they should never have been sold.

A spokesperson for Singtel told Daily Mail, ‘Singapore Telecom Australia is the holding company of the Singtel Group’s investment in Optus and Optus is the only business it owns.;

;No tax was paid for FY2024 as Optus was not profitable despite revenues of approximately A$8 billion. The negative tax position was due to its infrastructure investments and operating expenses’

‘Optus pays taxes like any Australian company and FY2020 was when it was last profitable.’

‘The Singtel Group operates worldwide and undertakes all its legal and governance responsibilities diligently, including its Australian tax obligations.’

Virgin Australia

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Embattled telco Optus made $8billion last year – yet this is the unbelievable amount of tax its owner paid to Australia

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