Medibank is a top 100 taxpayer in Australia, and we are proud of our contribution to the nation’s public finances.
This report represents the 8th year we have published a tax report, setting out Medibank’s tax governance, strategy and tax-related payments. It is aligned to the Australian Government’s voluntary tax transparency code, which is designed to encourage greater transparency by the corporate sector and to enhance the community’s understanding of the corporate sector’s compliance with Australia’s tax laws.
Medibank paid $513.9 million in taxes and levies to Australian revenue authorities in the 2023 financial year (FY23). With 100% of operations based in Australia during this period, we paid tax solely in Australia. We did not engage in tax avoidance schemes or aggressive tax positions, with our effective tax rate of 29.7% reflecting this approach.
We remain committed to Medibank’s ongoing transparency around tax reporting to meet the expectations of the community when it comes to paying our fair share.
