Tax and Community Program New
Caltex Announces Tax And Community Program Contributions
- $7.5 billion in taxes paid in 2018, with 96.8 per cent paid in Australia
- $3.1 million in contributions to community programs in 2019
Caltex has today released its 2018 Taxes Paid Report, detailing tax and excise collected and paid in the 2018 calendar year, along with financial contributions made through community programs in 2019.
In 2018, Caltex’s tax contribution totalled to $7.5 billion, with 96.8 per cent of taxes paid in Australia. This figure includes seven billion dollars of fuel excise and GST collected on behalf of the Commonwealth and corporate taxes of $238 million, giving Caltex an effective corporate tax rate of 28.1 per cent for its global operations.
Matthew Halliday, Chief Financial Officer, said that Caltex’s tax report is voluntary and furthers its commitment to operating transparently.
“Caltex is committed to tax transparency and we recognise that our tax contributions are critical to the Australian economy, helping fund important infrastructure and other programs that benefit our society,” said Mr Halliday.
Caltex has proven that its support of Australian society goes beyond economic contribution, committing $3.1 million to community programs in 2019. This contribution, channelled through community partners, supported programs aimed at a range of causes, including drought affected communities, volunteer firefighters, veterans and their families and Indigenous youth.
Caltex was privileged to work with emergency services to ensure the supply of fuel for the emergency response during recent bushfires. In addition to local store initiatives, paid leave support for employee volunteers and the $25,000 in StarCash committed to NSW Rural Fire Service (RFS) volunteers in early December, it also launched the Caltex Employee Bushfire Relief Fund, allowing employees to make pre-tax contributions to the organisations supporting those that most need it, with Caltex doubling all contributions.
Mr Halliday concluded, “As a company that supplies one third of Australia’s liquid fuel needs, we are proud of the contribution we make through tax collected and paid, along with through our community programs and as an employer of over 7,000 dedicated and talented people across the country.”