The Australian arm of Apple has reported that profit, revenue, and income tax remained steady during the financial year to 26 September 2020.
The company reported after-tax profit came in at AU$288 million, slightly above the AU$287 million recorded in the previous financial year.
Meanwhile, revenue reached AU$9.79 billion following last year’s AU$9.39 billion. This was mostly earned through the sales of mobile communication devices, and personal computers that contributed a whopping AU$8.37 billion to the revenue total, leaving services contributing AU$1.42 billion.
The group paid just under AU$120 million in total income tax for the full year.
See also: How to protect your business from tax fraud (TechRepublic)
Apple had a current tax income expense of just a little over AU$126 million, deferred tax of nearly AU$6.3 million, and over-provisioned for a mere $165,000.
During the year, Apple had 3,896 employees, with salaries and bonuses lifting marginally from AU$263 million recorded in the previous year to AU$268 million. Total employee benefits expenses jumped by just over AU$24 million to AU$446 million.
The immediate and ultimate holding companies of Apple Pty Ltd are Ireland-based Apple Operations International Limited and US-based Apple Inc.
Apple was among a handful of technology companies that continued to pay their fair share of corporate tax in Australia during the 2018-19 financial year, the Australian Taxation Office’s (ATO) corporate tax transparency report revealed at the end of last year. Other companies that did the same included Microsoft, Facebook, Samsung Electronics, Amazon Web Services, Cisco, Dell, Equinix, and Huawei Australia.
The ATO said “the proportion of companies that have paid no income tax remains steady at 32% in 2018-19 in comparison to 2017-18”.
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