After reporting $US64.7 billion of sales in the final quarter of 2019-20, Apple’s global sales are widely tipped to exceed $US100 billion in Wednesday’s announcement.
Australia remains one of the few countries where Apple’s iOS smartphone operating system outsells Google’s Android. The result has been years of steadily increasing revenue for Apple in Australia, which turned over just $6 billion here in 2013-14.
More contentious has been the amount of tax Apple pays in Australia, even though a five-year audit concluded by the Australian Tax Office in 2017 gave the tech giant the all-clear, and it has never been issued with a tax penalty.
Strictly a sales and marketing outfit for the products developed in Cupertino, Apple Australia booked an $8.77 billion cost of sales on its 2019-20 revenue, reducing gross profit to $1.02 billion.
Administrative expenses then reduced taxable income to $408 million, resulting in a $119.9 million income tax expense, and a $288.3 million net profit.
The amount sent to the ATO is down slightly from 2018-19 income tax expense of $120.9 million.
However Apple Australia’s tax bill has generally grown as its revenue has grown. For instance it paid $85 million in 2014-15, off revenue of $7.9 billion.