The parent company of beleaguered telco company Optus failed to pay any corporate tax despite earning more than $8.2 billion in income from Australian customers, as new figures reveal that the federal budget increasingly depends on miners and banks.

The Australian Tax Office this morning released its annual corporate tax report that outlines the income and tax paid by the nation’s largest private and public companies. In 2023-24, more than 4000 firms paid $95.7 billion in tax on $3.3 trillion of income.

But Singapore Telecommunications (Singtel), the parent company to Optus which is under fire over its role in a Triple Zero outage across parts of the country, was not one of them. Despite declaring $8.2 billion in income, it had no taxable income or payable tax.

It’s the fourth success

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