Medibank reports corporate tax for 2019

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Medibank paid $218 million in corporate tax last financial year according to its 2019 Tax Report.

It is the fourth year the company has published a tax report under the federal government's voluntary Tax Transparency Code.

The $178 million in income tax on $616 million in income was up from $174 million for the previous year.

It paid an effective corporate tax rate of 29 per cent. It was slightly below the official 30 per cent corporate tax rate because of a downward adjustment related to the previous year.

The company also said it made large contributions to other taxes on behalf of its over 3,800 employees, including PAYG Withholding.

"In addition to income tax, Medibank also makes significant payroll and employer tax payments in Australia," said chief financial officer Mark Rogers.

"In FY19, Medibank made its tax payments solely in Australia, reflecting our domestic presence. We are proudly Australian based – contributing to public finances as an employer of more than 3,800 people, and through compliance with corporate tax laws.

"We know that we have an obligation to pay our fair share – a share that contributes to the wider Australian community and to the continuity of universal healthcare."