Medibank is a top 100 taxpayer in Australia, and proud of it.
For the past six years, we’ve made the choice to voluntarily publish a tax report that aligns with the Australian Government’s voluntary tax transparency code. Making this information public is one way the corporate sector can demonstrate transparency when it comes to Australia’s tax laws.
In our latest report, we set out our tax governance and strategy along with the tax-related payments we made for the 2021 financial year (FY21).
The key call outs for FY21 reflect our tax approach. With 100% of our operations based in Australia, we made tax payments solely in Australia. Our effective tax rate of 30.2% reflects that we do not engage in tax avoidance schemes or aggressive tax positions. And we paid $425.2 million in taxes and levies while supporting our people and customers in response to the COVID pandemic. We did this without accessing any forms of taxpayer-funded government relief.
Keeping our commitment to not profit from COVID, we have continued to support our customers through measures such as postponing premium increases, providing cash give backs, and offering financial hardship assistance.
We are proud of the contribution we continue to make to Australia’s public finances, and in turn, the nation’s prosperity. Paying our fair share is the right thing to do, and it’s what we’ll continue to do.
