Economic profile - Our company

Economic profile

ANZ's economic contribution we make to society is more than financial profits. We create jobs, pay salaries and invest in the skills of our people. We also pay taxes in the countries where we operate, support business in our supply chain and provide products that satisfy the needs of our customers.

Economic value generated and distributed (EVG&D), as defined in the Global Reporting Initiative's Sustainability Guidelines (G3), provides a basic indication of how an organisation has created wealth for stakeholders.

ANZ's EVG&D information is derived from our audited financial statements and community investment figures calculated using the London Benchmarking Group methodology.

In 2008, direct economic value generated was $36,913 million and total economic value distributed was $34,209 million.

Total tax contribution

In 2006, ANZ participated in a Total Tax Contribution Survey in conjunction with the Business Council of Australia and the Corporate Tax Association. The Survey provided a framework to enable the collection and publication of information based on taxes paid and taxes collected.

ANZ has used this framework to communicate our economic tax contribution, manage tax-operating risk and optimise our tax strategy to create shareholder value. Further, a disclosure of this kind supports our tax strategy, being to maintain a low-risk tax appetite and a transparent tax culture.

During 2008, taxes borne in Australia amounted to more than $2.3 billion, with income tax and GST combining to contribute 88% of this amount. In New Zealand, taxes borne totalled $485 million, with income tax and GST contributing 96% of this amount.

Taxes collected in Australia amounted to $910 million with more than half relating to employee PAYG. New Zealand's taxes collected figure was $745 million with resident withholding tax and employee PAYG making up 96% of the total.