September 2018
Banking Royal Commission most important for Australians: poll
A majority of Australians believe the Royal Commission into Banks and Financial Services has uncovered more wrong doing (70%) and is most important for Australians (65%) compared to the Royal Commission into Trade Unions, according to new polling from The Australia Institute. Meanwhile, almost a third of Australians (31%) believe the Royal Commission into Trade
Our regulators fail to protect the vulnerable from the greedy. Let’s find out why.
by Richard Denniss. [This article originally appeared on The Guardian Australia 19.09.2018] The royal commission Australia really needs is one into the spectacular – almost complete – failure of our regulators to protect the vulnerable from the greedy. While it is clear that many of our so-called watchdogs are little more than lap dogs, what
Banking against the Reef
by Ebony Bennett, Deputy Director of The Australia Institute. [This article originally appeared in the Canberra Times 08.09.18] Watching Brazil’s National Museum burn this week was a tragic reminder that, if we don’t take care, we can snap the threads that bind us to our history forever. Over a matter of hours, tens of millions
Secure long-term housing at half the cost
New research from the Australia Institute and Prosper Australia shows Government could use existing housing schemes to reduce the cost of secure long-term housing by as much as 52%, at no extra cost to the budget. The report shows that the government can create more secure long-term forms of residency, insulated from changes in market
ACT’s Land Rent Scheme sets national example
Canberra’s innovative Land Rent Scheme has been singled out in new research from the Australia Institute and Prosper Australia that shows if applied nationally, Government could significantly reduce the cost of secure long-term housing. Currently the scheme sees over one-thousand Canberra households saving more than $9 million in housing costs per year, at no cost
August 2018
Infographic: The Shrinking Labour Share of GDP and Average Wages
The Centre for Future Work recently published a symposium of research investigating the long-term decline in the share of Australian GDP paid to workers (including wages, salaries, and superannuation contributions). The four articles, published in a special issue of the Journal of Australian Political Economy, documented the erosion of workers’ share of national income, its causes, and consequences.
We cannot afford to give up on politics
by Ebony Bennett, Deputy Director of The Australia Institute. [This article originally appeard in The Canberra Times 24.08.18] I really enjoy the blood sport of Australian federal politics but I consider it a benign vice on my part, to be discussed only among consenting adults, mostly fellow Canberrans and people on Twitter. I confess I
Medibank Private – reported full year results on 24 August 2018
New analysis by The Australia Institute shows that based on Medibank Private’s annual report, the company tax cut would be a $554.9 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 628.3 Company tax 2017-18 183.2 Benefit from company tax cut based
Coca-Cola Amatil – reported half year results on 22 August 2018
New analysis by The Australia Institute shows that based on Coca-Cola Amatil’s annual report, the company tax cut would be a $201.7 million gift over the first decade of the cut to just this one company. Return to Revenue Watch $ million Profit 2017-18 232.1 Company tax 2017-18 66.6 Benefit from company tax cut based
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
Company tax cuts defeated in the Senate
The Australia Institute welcomes the defeat of the Treasury Laws Amendment (Enterprise Tax Plan No. 2) Bill 2017 in the Senate. “We welcome the defeat of the Government’s big business company tax cut legislation in the Senate,” said Ben Oquist, executive director of The Australia Institute. “Congratulations to Labor, the Greens, and Senate crossbenchers Senators
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
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
Company tax cuts: last priority for WA voters
The Australia Institute commissioned ReachTEL to conduct a survey of 1,093 residents across Western Australian households on the evening of 13th August 2018. Key Findings: 2PP Liberal 55%, Labor 45% 28.6% of West Australians said they would consider voting for One Nation in the Senate, though One Nation primary vote stands at 7.5% (HoR) and
SA, TAS, QLD miss out on company tax cuts: new analysis
South Australia, Tasmania and Queensland all miss out on company tax cuts with only 11% of beneficiaries headquartered in those three states, analysis of Department of Finance data and ATO statistics reveals. The Australia Institute has today released new analysis of a list compiled by the Department of Finance and distributed to crossbench senators outlining
Company tax cuts: $39.5 billion for big banks
New analysis by The Australia Institute’s Revenue Watch initiative shows the company tax cut would represent a $39.5 billion gift to the big four banks over the first decade of the cut. Furthermore, new polling also released today shows a majority of voters (61%) think the Senate should block the company tax cuts for large
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
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