Posts
August 2018
Sydney Airport – reported half year results on 22 August 2018
New analysis by The Australia Institute shows that based on Sydney Airport’s annual report, the company tax cut would be a $65.4 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 194.8 Company tax 2017-18 21.6 Benefit from company tax cut based
Seven Group – reported full year results on 22 August 2018
New analysis by The Australia Institute shows that based on Seven Group’s annual report, the company tax cut would be a $192.3 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 468.7 Company tax 2017-18 63.5 Benefit from company tax cut based
Lendlease – reported full year results on 22 August 2018
New analysis by The Australia Institute shows that based on Lendlease’s annual report, the company tax cut would be a $825.7 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 1,066.2 Company tax 2017-18 272.6 Benefit from company tax cut based on
Big Four Banks
New analysis by The Australia Institute shows that based on the big four banks’ reporting, the company tax cut would be a $39.49 billion gift over the first decade of the cut to just these four companies. Big Four Banks $ million Profit 2017-18 44,262 Benefit from company tax cut based on 2017-18 profit 2,173
The 3 key arguments for the company tax cut make no economic sense, here’s why.
We often hear the government’s company tax cuts are ‘good for the economy,’ but are they? The argument goes something like this: ‘everyone else is cutting company tax rates, if we don’t match their cuts no one will invest in Australia, we’ll lose money and jobs and wages will decline.’ That sounds bad. But what does
NIB Holdings – reported full year results on 20 August 2018
New analysis by The Australia Institute shows that based on NIB Holdings’s annual report, the company tax cut would be a $178.1 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 192.3 Company tax 2017-18 58.8 Benefit from company tax cut based
Fortescue – reported full year results on 20 August 2018
New analysis by The Australia Institute shows that based on Fortescue’s annual report, the company tax cut would be a $1.523 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million (converted from US$) Profit 2017-18 1,705.7 Company tax 2017-18 502.8 Benefit from company tax
Woolworths Group – reported full year results on 20 August 2018
New analysis by The Australia Institute shows that based on Woolworths Group’s annual report, the company tax cut would be a $2.175 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 2,394 Company tax 2017-18 718 Benefit from company tax cut based
Goodman Group – reported full year results on 17 August 2018
New analysis by The Australia Institute shows that based on Goodman Group’s annual report, the company tax cut would be a $249.6 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 1,185.2 Company tax 2017-18 82.4 Benefit from company tax cut based
Telstra – reported full year results on 16 August 2018
New analysis by The Australia Institute shows that based on Telstra’s annual report, the company tax cut would be a $4.765 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 5,102 Company tax 2017-18 1,573 Benefit from company tax cut based on
QBE – reported half year results on 15 August 2018
New analysis by The Australia Institute shows that based on QBE’s annual report, the company tax cut would be a $87.8 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 394.0 Company tax 2017-18 29.0 Benefit from company tax cut based on
ASX Limited – reported full year results on 16 August 2018
New analysis by The Australia Institute shows that based on ASX Limited’s annual report, the company tax cut would be a $596.7 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 642.1 Company tax 2017-18 197.0 Benefit from company tax cut based
Wesfarmers – reported full year results on 15 August 2018
New analysis by The Australia Institute shows that based on Wesfarmers’s annual report, the company tax cut would be a $3.77 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 3,850 Company tax 2017-18 1,246 Benefit from company tax cut based on
CSL Limited – reported full year results on 15 August 2018
New analysis by The Australia Institute shows that based on CSL Limited’s annual report, the company tax cut would be a $1.67 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 2,281 Company tax 2017-18 552 Benefit from company tax cut based
Woodside – reported half year results on 15 August 2018
New analysis by The Australia Institute shows that based on Woodside’s annual report, the company tax cut would be a $1.76 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 (Twice half year result) 1,740 Company tax 2017-18 (Twice half year result)
Insurance Australia Group Limited – reported full year results on 15 August 2018
New analysis by The Australia Institute shows that based on Insurance Australia Group Limited’s annual report, the company tax cut would be a $1.2 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 1,410.0 Company tax 2017-18 384.0 Benefit from company tax
Domino’s Pizza Enterprises Limited – reported full year results on 14 August 2018
New analysis by The Australia Institute shows that based on Domino’s Pizza Enterprises Limited’s annual report, the company tax cut would be a $159.9 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 174.5 Company tax 2017-18 52.8 Benefit from company tax
Whitehaven – reported full year results on 14 August 2018
New analysis by The Australia Institute shows that based on Whitehaven’s annual report, the company tax cut would be a $711 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 760 Company tax 2017-18 235 Benefit from company tax cut based on
JB Hifi – reported full year results on 13 August 2018
New analysis by The Australia Institute shows that based on JB Hifi’s annual report, the company tax cut would be a $306.8 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 334.5 Company tax 2017-18 101.3 Benefit from company tax cut based
Aurizon – reported full year results on 13 August 2018
New analysis by The Australia Institute shows that based on Aurizon’s annual report, the company tax cut would be a $296.8 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 326.0 Company tax 2017-18 98.0 Benefit from company tax cut based on
Bendigo and Adelaide Bank – reported full year results on 13 August 2018
New analysis by The Australia Institute shows that based on Bendigo and Adelaide Bank’s annual report, the company tax cut would be a $605.8 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 634.5 Company tax 2017-18 200 Benefit from company tax
To Federal ICAC or not to Federal ICAC?
Richard Denniss and Senator Kristina Keneally catch up to discuss whether Australia needs a Federal ICAC on The Lucky Country podcast. Arguments for a national corruption watchdog have been percolating in the Australian political landscape for the last few years. Our polling shows that 85% of Australians believe there is corruption in federal politics at a time when
AGL – reported full year results on 9 August 2018
New analysis by The Australia Institute shows that based on AGL’s annual report, the company tax cut would be a $2.011 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 2,251 Company tax 2017-18 664 Benefit from company tax cut based on
Suncorp – reported full year results on 9 August 2018
New analysis by The Australia Institute shows that based on Suncorp’s annual report, the company tax cut would be a $1.53 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 1,564 Company tax 2017-18 505 Benefit from company tax cut based on
Commonwealth Bank – reported full year results on 8 August 2018
New analysis by The Australia Institute shows that based on Commonwealth Bank’s annual report, the company tax cut would be a $12.195 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch Commonwealth Bank $ million Profit 2017-18 13,420 Company tax 2017-18 4,026 Benefit from company tax
AMP – reported half year results on 8 August 2018
New analysis by The Australia Institute shows that based on AMP’s annual report, the company tax cut would be a $308.95 million gift over the first decade of the cut to just this one company. Return to Revenue Watch AMP $ million Profit 2017-18 340 Company tax 2017-18 102 Benefit from company tax cut based
Rio Tinto – reported half year results on 1 August 2018
New analysis by The Australia Institute shows that based on Rio Tinto’s half year report, the company tax cut would be a $7.67 billion gift over the first decade of the cut to just this one company. Return to Revenue Watch Rio Tinto $ million Worldwide Income 2017-18 54,844 Profit 2017-18 19,699 Company tax 2017-18
Introducing Revenue Watch
This August, The Australia Institute will be launching our latest initiative: Revenue Watch.
July 2018
Possibly Surprising Insights on the Future of Work
Trade unionists are gathering this week at the ACTU’s triennial Congress in Brisbane. Jim Stanford, Director of the Centre for Future Work, participated in a panel on the Future of Work (an apt title!) at the Congress. His presentation was “5 Possibly Surprising Insights on the Future of Work”. More detail on the issues raised
Deconstructing the case for coal
There have been some exaggerated claims about future prospects for coal fired power plants lately — Australia Institute research shows these claims are based on misunderstandings, so lets get clear about coal. Commentators and politicians have recently called for renewed investment in coal-fired power generation, including calls for the government to build a new power station in the