Australia is a rich country that taxes like a poor one

featuring Matt Grudnoff and Ebony Bennett
Australian Treasurer Jim Chalmers (left) and Australian Finance Minister Katy Gallagher speak to the media during a press conference at Parliament House in Canberra, Tuesday, December 17, 2024.
AAP Image/Lukas Coch

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If Australia just collected the OECD average in tax, the government would have an extra $130 billion a year to spend on essential services like health and education.

On this episode of Follow the Money, Matt Grudnoff and Ebony Bennett discuss the latest data from the Australian Taxation Office showing that 30 per cent of large corporations paid no company tax in 2023-24 – with the gas, coal, salmon and tech industries among the worst offenders.

Use the code ‘podcast’ to get 50% off tickets to the Australia Institute’s Revenue Summit. Discount available for Follow the Money listeners while stocks last.

Guest: Matt Grudnoff, Senior Economist, the Australia Institute // @mattgrudnoff

Host: Ebony Bennett, Deputy Director, the Australia Institute // @ebonybennett

Show notes:

New government data confirms gas exporters continue to pay no tax, the Australia Institute (October 2025)

Big gas is taking the piss, Follow the Money, the Australia Institute (April 2025)

Theme music: Pulse and Thrum; additional music by Blue Dot Sessions

We’d love to hear your feedback on this series, so send in your questions, comments or suggestions for future episodes to podcasts@australiainstitute.org.au.

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1/ Giving business billions of dollars in tax cuts means starving schools, hospitals and other services. Giving business billions of dollars in tax cuts means billions of dollars less for services like schools and hospitals. If Australia cut company tax from 30% to 25% this would give business about $20 billion in its first year,