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The 2013-14 revenue earned and tax paid by companies such as Wilson Parking, Tronox, Wood Group, Wirtgen, World Fuel Services and CNOOC has been made public.

Tax office highlights WA HQ financials

The financial affairs of numerous previously low-key unlisted or foreign-owned companies headquartered in Western Australia have been released by the Australian Taxation Office.

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Perth
For a business newspaper you have a very poor grasp of the difference between income (which is like, but not the same as accounting revenue or sales) and taxable income (which is like profit). From the ATO's data using Wirtgen as an example they had income (sales) of $192.7 million, a taxable income of $10.5 million and paid tax of $3.1 million giving an effective tax rate of 30.0%. Are you expecting that they would be paying 30% of $192.7 million as tax? Would expect business journalists to be a bit smarter and know that tax is paid on taxable income and not income - the tone of your article suggest otherwise. BTW I am not associated with Wirtgen and have never dealt them - I used them as an example as they were the first name I found when on the ATO spreadsheet.

Thanks for your comment. The story makes it clear from the second paragraph that we are talking about revenue - which, agreed, is very different from profit. The ATO data uses the terminology income, so for legal reasons we used that; perhaps we could have been more specific - or explained that income in a business is different from income as an individual - but we really didn't think our business readers would be confused by the fact that you can have high revenue and no profit, therefore, no tax. From our point of view the story was about the scale of some of those previously undisclosed business operating out of WA. We added the tax payable data simply because it is interesting to see businesses with very large turnover that are unable or have yet to turn a profit on which tax was due. I am sorry if any reader found this unclear but I would like to say that we very much understand the difference between sales and profit. We are in a business too!

Perth
This has been a stroke of genius by the Greens & Labor [I jest]. All the companies listed here will be clamoring to find out the names of who has the "good" accountants. Nothing like a bit of free advertising for the effective accountants. Or alternatively these companies will restructure to become entities under $200 million, or more likely just shift offshore. It's so innovate to reverse centuries of Privacy Legislation, in order to shrink a nation's capital base [on purpose]. Of course the real question that comes to mind is considering that the Tax Office has always had this confidential information, what have they been doing about it. Very little, it appears. So in reality, assuming there is an issue, this is naming & shaming the Tax Office's incompetence, more than anything else

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