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https://www.theguardian.com/australia-news/2025/jul/29/adani-australia-corporate-tax-carmichael-coal-mine-abbot-point-queensland-ntwnfb>
"More than three years after Adani started extracting coal from its Queensland
mine, the Indian conglomerate has paid zero corporate tax from its Australian
project – and tax experts say it may “never pay a cent”.
Adani pledged just over a decade ago to plough $22bn in taxes and royalties
into the Australian economy. Industry groups supporting the coal company had
also claimed Adani’s controversial plans would fund schools, hospitals and
other infrastructure for “almost a century”.
Guardian Australia analysis also found that the Abbot Point port, operated by
an Adani entity under a 99-year lease signed in 2011, rarely pays tax. Over a
10-year period, it paid company tax on port income on just one occasion, of
less than $4m.
Adani’s Carmichael mine, and rail and port operations, are among the most
politically divisive projects in Australia. While critics usually raise
environmental concerns, there’s also a question over its economic benefits for
Australia.
Despite recording strong revenue, Adani’s Australian assets regularly report
annual losses, in large part due to large annual payments to related parties
for interest and lease expenses.
It also pays for services conducted by other Adani entities as the coal moves
through the logistics chain from mine to export.
Jason Ward, the principal analyst at the Centre for International Corporate Tax
Accountability and Research, says the level of related-party transactions at
Adani’s Australian operations is “pretty unprecedented”.
“My judgment on this is that this company is absolutely set up to never make
taxable profit,” Ward says.
“The related-party transactions are so big and wild and all over the map that
this company will never make a profit on paper and will never pay a cent of
tax.”"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
