Canberra Airport owners appear on ATO corporate tax transparency report
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Canberra Airport owners appear on ATO corporate tax transparency report

The taxable income Canberra Airport's parent company accrued remained steady between 2013-14 and 2014-15, despite the Australian Tax Office's corporate transparency report showing a near-doubling of its total income during the same period.

Capital Property Finance Pty Limited, which is tied to the group that owns Canberra Airport and property developments across the city, was listed in the report alongside corporate giants such as Google, Ford and Apple.

Canberra Airport parent company Capital Property Finance Pty Limited's taxable income remained steady between the two financial years.

Canberra Airport parent company Capital Property Finance Pty Limited's taxable income remained steady between the two financial years.Credit:Rohan Thomson

The ATO is required to publish the details of Australian-owned resident private companies with a total income of $200 million or more, regardless of the tax the corporation is required to pay.

Capital Property Finance reported a total income of $404,928,226 in 2014-15, up from $209,237,945 in 2013-14.

But its taxable income remained relatively static at $62,872,932 in 2014-15 compared with $63,765,370 the previous year.

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That figure meant the company was required to pay $15,847,090 during that period, compared with $16,651,574 in 2013-14.

It's understood the increase in the company's total income was related to re-evaluation of the corporation.

Tax Commissioner Chris Jordan said total income did not factor in a company's profitability, while there was no data in the figures to indicate if a corporation's lack of taxable income showed it had made a loss

"No tax paid does not necessarily mean tax avoidance, and assumptions about an entity's compliance with their tax obligations, or those of their associated groups, cannot be made solely on the basis of this data," he said.

"In order to support company tax compliance, the ATO continues to have real-time engagement with large taxpayers, including access to a wide range of data, including tax return and accounting records, and third party data."

Capital Property Finance was among 325 private companies listed on the report.

About 1580 Australian public and foreign owned companies with an income of $100 million or more were also listed.