Mobile

Apple Australia Makes More Money, Pays Less Tax

Apple Australia’s annual report has shown that the company’s consolidated revenue increased in the latest reporting period by 27.9 per cent — that’s $1.7 billion. Apple Australia’s taxable income, on the other hand, was reduced by 17.4 per cent to $207 million.
View Apart / Shutterstock.com

The annual report was lodged this week with the Australian Securities and Investments Commission (ASIC) and covers the 12 months from 25 September 2015.

Apple Australia’s consolidated revenue for 2015 reached a total of $7.9 billion, and it has reported a rise in gross profit of 16.8 percent to $638 million.

“Sales, marketing and distribution expenses” is cited as the factors that assisted in Apple Australia reducing its taxable income by 17.4 per cent on the previous year to $207 million. The total amount of tax paid was $84.9 million, inclusive of an $11 million adjustment for previous years.

In the end, the total comprehensive income reported by Apple for 2015 was $122.7 million, down 28.7 per cent ($49.3 million) on the previous year.

The report also stated details of an audit the ATO is conducting into Apple’s 2012 financial year.

“The Australian Taxation Office is currently auditing the company’s income tax position for the year 2012. As at this date of this report, the outcome of tax audit cannot be predicted with certainty and reliably estimated, no adjustments have been recognised in the financial statements,” the statement reads.

[It News]


Have you subscribed to Gizmodo Australia's email newsletter? You can also follow us on Facebook, Twitter, Instagram and YouTube.

Trending Stories Right Now