Qantas and Virgin among 1200 major companies that paid no income tax last financial year.

A major streaming service, media outlets, big airlines and a pizza chain are among more than 1200 large companies that paid no income tax in 2022–23, a new ATO

report reveals, as many businesses deducted losses and used offsets to dial their tax bills down to zero.

Documents show Netflix’s Australian operations generated more than $1.15 billion in income in the 2023 financial year, but had no tax payable, reported The Guardian.

Airlines Qantas Airways and Virgin Australia also paid no tax in 2022–23 after they were able to carry forward losses accumulated early in the pandemic. Tech company Canva also had a zero-tax bill.

News Australia Holdings – part of News Corp – generated $1.88 billion in income in 2022–23 but had no tax payable.

Other large businesses also have multiple entities that use transfer agreements to charge other divisions, which can reduce the amount of tax they pay in the jurisdiction where the money is earned.