Alumina Limited

Tax Information

ATO Publication of Taxes paid by Alumina Limited in 2013

 

Alumina Limited (Alumina) acknowledges the public disclosure by the Australian Taxation Office (ATO) of its total income, taxable income and tax paid for the year ended 31 December 2013 (the year) as follows:

 

Name

ABN

Total Income

Taxable Income

Income Tax Payable

Alumina Limited

 85 004 820 419

AUD100.5 m

AUD122.4 m

Nil

 

 

Alumina is an ASX listed Australian resource company which owns 40% of the world’s largest bauxite and alumina business, Alcoa World Alumina and Chemicals (AWAC). Our partner in AWAC is Alcoa Inc., which owns the remaining 60% and manages the day-to-day operations.

The significant majority of Alumina’s income reported for the year relates to Australian and foreign dividend income from the company’s investments in AWAC.  Under Australian income tax law, Alumina is entitled to reduce its tax payable by claiming credits (franking credits) in relation to Australian dividend income. This is to prevent double taxation because Australian tax has already paid by AWAC’s Australian company on its operating income. No Australian tax is payable on the foreign dividends as the income is exempt under Australian income tax law because Alumina holds a greater than 10% stake in the foreign companies.  Consequently Alumina paid no tax in its own right for the year.

 

Alumina’s tax affairs are overseen at an appropriate level and controls are in place to ensure that tax matters are reported to the Board and Audit & Risk Management Committee on a bi-annual basis.

 

Our organisation acts with integrity and transparency in all tax matters and we meet all of our obligations under the tax law. We maintain positive working relationships with Tax Authorities which is supported by the fact that the ATO has assessed Alumina as being low risk and we do not have any outstanding disputes with the ATO or any other Tax Authorities. 

 

Alumina manages its tax affairs according to the highest standards of business conduct, which includes compliance with applicable law, as set out in our Code of Conduct.

 

For investor enquiries:            For media enquiries:                       

Chris Thiris                                                                                          Nerida Mossop

Chief Financial Officer                                                                     Hinton and Associates

Phone: +61 3 8699 2607                                                                    Phone: +61 3 9600 1979

chris.thiris@aluminalimited.com                                                         Mobile: +61 437 361 433

 

Charles Smitheram

Investor Relations Manager

Phone: +61 3 8699 2613

charles.smitheram@aluminalimited.com