PROFIT BEFORE TAX
Main Business Activities
- Upstream and Integrated Gas
- New Energies
Shell began operations in Australia in 1901. Today, we are a leading gas producer and are playing our part in the transition to a low-carbon future by investing in the power sector, renewable energy sources and carbon abatement activities.
Shell Australia has been through a heavy investment phase in onshore and offshore natural gas and liquefied natural gas (LNG) exploration and development projects, power and gas trading, renewable energy and greenhouse gas emissions abatement projects. Shell Australia is comprised of two income tax groups: Shell Energy Holdings Australia Limited and QGC Upstream Holdings Pty Ltd. (QGC).
Country Financial Analysis
The statutory corporate income tax rate in Australia is 30%.
Shell Australia’s 2019 revenue is derived from sales of LNG, condensate, liquefied petroleum gas, domestic gas and power. Shell Australia's recent investments have been in projects which are yet to generate profit. The Shell Energy Holdings and QGC tax groups had lower taxable income than accounting profit after using capital allowances, carry-forward losses and incentive credits (for research and development, for example). The tax paid figure for 2019 includes payments relating to previous years.