12 December 2016
This inaugural Tax Contribution Report (Report) provides stakeholders with the necessary information concerning Wesfarmers' Australian tax activities for the 2016 financial year.
This Report provides information regarding Wesfarmers' Australian tax activities for the 2016 financial year, including transactions with international related parties, along with our approach to tax strategy and governance.
Wesfarmers makes a very significant contribution to the Australian economy. In the 2016 financial year, Wesfarmers generated $66.0 billion of revenue, which was distributed to our various stakeholders, including employees, suppliers, shareholders, governments and the community.
We paid $8.4 billion in wages and salaries to our employees, $45.5 billion to our suppliers and $6.7 billion for rent and other services. We invested $1.5 billion in capital expenditure in our businesses, while paying $2.1 billion to our shareholders in the form of fully franked dividends. In addition, more than $110 million was contributed to the community through our businesses.
As one of Australia's top 10 taxpayers, Wesfarmers paid almost $1.5 billion of taxes and royalties to Australian governments in the last financial year. The Group also collected an additional $4.2 billion in taxes and duties for the Federal Government, including employee Pay As You Go tax, excise and customs duty, and GST.
The full report is available below.