QANTAS has responded to past criticism of its tax contributions by releasing a report showing it paid $11 million in company tax last financial year.
The report marks the carrier’s renewed status as a corporate taxpayer after exhausting its available tax loses.
“Over the past few years, the Qantas Group has been working through available tax losses that followed a period of significant financial losses and heavy restructuring,” the report said.
“These available tax losses peaked at $3.2 billion in FY15 and had been reduced to $951 million at the end of FY17, reflecting the company’s return to profitability.”
The airline said the total amount of taxes it paid and collected last financial year was $3.4 billion, a 7% increase on the previous year.
This includes GST, FBT, payroll tax, company tax and sector specific taxes like the passenger movement charge.
Source: traveldaily