Message from the Chief Financial Officer
I am pleased to present Origin’s 2021 Tax Contribution Report, detailing the taxes we paid in the 2021 and 2020 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 2021 financial year, we paid $26 million to federal and state governments comprising payroll tax, excise, and fringe benefit tax. This has reduced by $249 million from the previous year, primarily due to no income tax paid in the 2021 financial year, as a consequence of tax loss incurred in the 2020 financial year1. The tax loss was mainly attributable to the tax depreciation claimed on the remaining tax base of the Browse Basin exploration permits and a realised foreign exchange loss on debt maturity. 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 sixth voluntary tax contribution report.
Chief Financial Officer
As a signatory to the Board of Taxation’s voluntary Tax Transparency Code, this year we have published our sixth Tax Contribution Report.