Sydney Airport has paid no tax in the 10 years since it was privatised by the government.

While other international gateways such as Melbourne and Auckland are also held in private hands and regularly pay corporate tax, the last time Sydney Airport paid tax was before its sale to Macquarie Bank in 2002.

Over the rainbow: It has been a decade since Sydney Airport was taxed. Credit:Edwina Pickles

Not only has the company that controls the airport continued to structure its affairs so that it has no tax liability, it has won a tax benefit also.

An examination of Sydney Airport Corporation's financial accounts since its first full year of privatisation in 2003 shows the airport booked almost $8 billion in revenues during that time and gained tax benefits of almost $400 million. Although its report for June 2006 shows an entry of $425,000 for corporate tax, the picture is clouded by the complexity of the financial statements which includes a tax gain of $137 million in the interim accounts for that year.