Woodside corporate entities paid more than A$4 billion in combined income tax and petroleum resource rent tax (PRRT) for the 2022–23 year1
– almost three times the payment in the previous year. A further A$1.1 billion in taxes, royalties and levies was paid by Woodside, bringing the total contribution to Australian Commonwealth and State governments to A$5.1 billion for the period.
In addition to being among Australia’s top taxpayers, the ATO’s 2022–23 Report of entity tax information released today shows Woodside is the number one payer of PRRT in the country.
Woodside CEO Meg O’Neill said the ATO’s latest data confirms the company remains a robust contributor to Australia’s wealth and prosperity.
“As Australia’s fifth-largest taxpayer, we are enormously proud of the contribution we make to the communities where we operate and to the broader economy, year after year.
“When Woodside performs, Australia benefits, a fact clearly reflected by the more than A$21 billion in Australian taxes, royalties and levies we’ve contributed since 2011. 2
“In our 70th anniversary year, we remain as committed as ever to tax transparency, paying our way and meeting our obligations to government.”
As one of Australia’s largest taxpayers, Woodside is subject to the ATO’s Justified Trust program, designed to assure that companies are paying the right amount of tax. Woodside’s tax transparency has also been recognised as being within the leading group of its industry peers.
