Message from the Chief Financial Officer
I am pleased to present Origin’s 2019 Tax Contribution Report, detailing the taxes we paid in the 2018 and 2019 financial years.
Our disclosure in this report aligns with the recommendations of the Board of Taxation’s voluntary Tax Transparency Code, which aims to increase transparency around how much tax businesses pay and why.
This report details how the Origin Group meets its taxation obligations. Origin is open about our tax arrangements and how we comply with all applicable tax laws and regulations.
In the 2019 financial year, we paid $168 million to federal and state governments in income tax, payroll tax, excise and fringe benefit tax. This has increased by $54 million from the previous year due to an increase in income tax paid associated with higher taxable income, partly offset by the reduction in royalties resulting from our sale of Lattice Energy during the 2018 financial year.
Origin creates significant economic value through the performance of our Integrated Gas and Energy Markets divisions. In addition to paying taxes, our business contributes to Australia’s economic growth through employment, procurement of goods and services and community and infrastructure investments.
Our purpose of getting energy right for our customers, communities and planet is at the centre of everything we do, committing us to making a positive contribution to the communities in which we operate and the broader Australian economy. I am proud to share our fourth voluntary report.
Chief Financial Officer
As a signatory to the Board of Taxation’s voluntary Tax Transparency Code, this year we have published our fourth Tax Contribution Report.