An Australian company was paid more than $300 million a year to look after less than 50 refugees on Nauru, according to an Age investigative report.

Canstruct was contracted to the tune of $1.82 billion over five years, even during the eventual dwindling of refugees and asylum seekers in detention within the island nation.

Press PLAY to hear of the almost $2 billion dollars spent on Nauru

The Age senior writer Michael Bachelard told Karl and Gena on 6PR Breakfast the Nauru Offshore Processing Centre initially held 1000 people, while the company received around $30 million a month.

“Meanwhile their profits – clear of tax – went through the roof,” Mr Bachelard said.

Images: Department of Home Affairs