Woodside has reaffirmed its position as one of Australia’s largest corporate taxpayers, with new figures from the Australian Taxation Office (ATO) highlighting the energy company’s significant contribution to government revenues during the 2023–24 financial year.
The ATO’s 2023–24 Report of Entity Tax Information, released on 2 October 2025, shows Woodside corporate entities paid a combined $3 billion in corporate income tax and petroleum resource rent tax (PRRT) over the period.
When adding other taxes, royalties and levies payable at both Commonwealth and state levels, the total contribution reached $3.5 billion.
Woodside Chief Executive Officer Meg O’Neill said the report reinforced the company’s strong role in underpinning Australia’s fiscal position and supporting public services.
“Woodside pays its way. We are enormously proud of the contribution we make to the communities where we are active and to the broader economy, year after year,” O’Neill said.
The CEO highlighted that Woodside had delivered one of the highest effective tax rates in the country during the year.
“Our Australian all-in effective tax rate for 2024 was 46 per cent. Put simply, for every $100 of taxable profit, $46 of taxes apply,” she said.
O’Neill stressed that Woodside’s position as the nation’s number one PRRT contributor demonstrated the link between the company’s commercial performance and broader community benefits.
“In addition to being among Australia’s most significant taxpayers, the ATO data shows Woodside is the number one payer of PRRT in the country,” she said.
“When Woodside performs, Australia benefits, which is evidenced by the more than $24 billion in Australian taxes, royalties and levies that we’ve contributed since 2011.”
The PRRT, which applies to the profits from offshore oil and gas projects, has long been a point of focus in tax debates surrounding the resources sector.
The ATO data underlines Woodside’s role as the most significant contributor of this specialised tax, cementing its financial footprint in both federal and state budgets.
Industry observers note that resource companies, particularly in oil and gas, are among the largest contributors to Australia’s public revenues, and the latest Tax Transparency Report reinforces Woodside’s longstanding contribution.
The company’s declared payments also serve as a response to ongoing public and policy scrutiny over multinational taxation.
As one of the country’s largest tax-paying corporations, Woodside is subject to the ATO’s justified trust program.
The initiative is designed to provide assurance that large companies are paying the correct amount of tax in line with their income and activities.
Woodside’s disclosures have also been recognised within the top tier of transparency among industry peers, reflecting global trends for energy companies to demonstrate clearer links between earnings and tax contributions.
Analysts suggest that tax transparency has become increasingly important in the energy sector, where companies face pressure not only from shifting commodity markets but also from community expectations around sustainability, accountability and fair contribution.
The ATO’s latest publication adds to a broader picture of Woodside’s contributions over the past decade.
Since 2011, the company has paid more than $24 billion in taxes, royalties and levies in Australia.
This decade-long record underlines the continued relevance of resource companies in funding infrastructure and social programs.
With 2023–24 marking a year of continued volatility in global energy markets, Woodside’s financial performance directly translated into substantial fiscal returns to Australia.
Company representatives argue this points to the broader national value of maintaining a strong, competitive resources sector.
The recognition by Australia’s chief tax authority comes as Woodside advances major oil and gas projects aimed at sustaining future revenues.
Against a backdrop of energy transition pressures and increased debate over fossil fuels, the company underscores that its economic contributions remain critical to Australia’s prosperity.
O’Neill reiterated the company’s outlook on partnering national growth with corporate responsibility.
At $3.5 billion for the 2023–24 year alone, Woodside’s tax and royalty payments place it firmly among the largest corporate contributors to Commonwealth and State revenues, consolidating its role as both a key taxpayer and economic partner to Australia.
