Communities & Relationships
Effective tax rate
During FY22, we contributed a total of $413 million in taxes (including corporate income tax instalments of $1 million). Our effective tax rate on Underlying Profit is broadly in line with the Australian corporate tax rate of 30% before prior year adjustments and the R&D concession. In years when Underlying Profit after tax is lower, relatively small prior year adjustments have a larger percentage impact on effective tax rate.
FY18 | FY19 | FY20 | FY21 | FY22 | |
|---|---|---|---|---|---|
Effective tax rate | 29.5% | 29.1% | 28.3% | 27.0% | 23.2% |
Notes
Effective tax rate refers to underlying income tax expense expressed as a percentage of Underlying Profit.