Rupert Murdoch's News Corporation paid no tax whatsoever in 2015-16 on an Australian income of $2.9 billion. Its competitor Fairfax Media, owner of The Age and The Sydney Morning Herald, paid $16 million on a lower income of $1.48 billion.

The payments are revealed in the third annual corporate tax transparency report required under legislation that forces the Tax Office to divulge tax details for Australian public and foreign-owned entities with income of $100 million or more.

News Corporation chairman Rupert Murdoch. Credit:AP

News Corporation was able to reduce its Australian taxable income to zero, meaning no tax was paid. Fairfax Media reported a taxable income of $89 million, paying tax at an effective rate of 18 per cent.

Australia's biggest company BHP reported taxable income of $5.3 billion on a total income of $26.7 billion, paying $1.3 billion in tax, at an effective rate of 24 per cent.