Profit before tax
Main business activities
- Integrated Gas
- Renewables and Energy Solutions
Shell began operations in Australia in 1901. Shell has invested heavily in its Australian portfolio, which spans onshore and offshore natural gas and liquefied natural gas (LNG) exploration and development projects, power retailing, gas and solar power generation and trading, solar and onshore wind development, battery storage and carbon farming and abatement activities. Shell in Australia is comprised of two corporate income tax groups: Shell Energy Holdings Australia Limited and QGC Upstream Holdings Pty Ltd.
Country financial analysis
The statutory corporate income tax rate in Australia is 30%. Shell’s 2021 revenue rose largely because of higher prices and predominantly derived from sales of LNG, condensate, liquefied petroleum gas, domestic gas and power. 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 2021 includes payments relating to previous years. Our Payments to Governments Report for 2021 shows that Shell also paid around $276 million in royalties, fees and infrastructure improvements.