August 2018
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
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
Workers’ slice of Australian economic pie gets smaller
As corporate profits continue to climb, new research from the Centre for Future Work shows the share of Australian GDP paid out to workers is hovering at a post-war low.
Company tax cuts: $7.67 billion to just one company
New analysis by The Australia Institute shows that based on Rio Tinto’s half year report, the company tax cut would represent a $7.67 billion gift to Rio Tinto over the first decade of the cut. The Australia Institute has today launched a new Revenue Watch initiative, looking at companies over reporting season, to quantify how
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
Company tax cuts: new analysis shows foreign investors big winners
New analysis by The Australia Institute shows that foreign investors will be the unambiguous winners of the big business company tax cut ($50+ million turnover). “If the remaining company tax cuts now before the Senate are implemented the gift to foreign shareholders will be $3.7 billion in 2026-27, the year the tax cuts are fully
Mayo: New Polling on Asylum Seekers and Adani
The Australia Institute commissioned ReachTEL to poll the federal seats of Mayo (766 respondents) on the evening of Wednesday 25 July. Key Findings: 59/41 two-party preferred, favouring Centre Alliance candidate Rebekha Sharkie 64% of Australians support bringing genuine refugees to Australia who arrive by boat, only a quarter support indefinite detention on Nauru and Manus
Mayo: New Polling on Company Tax Cuts, Voter Priorities for Government Revenue, Newstart
The Australia Institute commissioned ReachTEL to poll the federal seats of Mayo (766 respondents) on the evening of Wednesday 25 July. Key Findings: 59/41 two-party preferred, favouring Centre Alliance candidate Rebekha Sharkie Only 27.7% support for cutting company tax rate for large business, while 65.8% want tax rate increased or kept same 63.5% oppose or
NEG 26% Target Spells Trouble for Agriculture Sector
New analysis from the Australia Institute shows that requiring Australia’s agricultural sector to reduce emissions by at least 26 per cent by 2030 would impose significant costs and reduced production for the industry. The federal government’s proposed NEG plans to lock in a 26 per cent reduction in the electricity sector, implying an intention to
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.
Adani’s automated mine risks just transition for coal workers
The best way to protect coal jobs in existing mines is to stop the construction of new, highly automated coal mines in the Galilee Basin according to new research by The Australia Institute. The Institute’s report estimates that development of the Galilee Basin would reduce coal mining jobs by 9,000 in the Hunter Valley (NSW),
Centre for Future Work at #ACTUCongress18
Trade unionists from across Australia are gathering in Brisbane this week for the 2018 Congress of the Australian Council of Trade Unions. And the Centre for Future Work will be there!
The Abbott doctrine of dumping deals
By Richard Denniss, Chief Economist at The Australia Institute. [View this article in the Australian Financial Review] Having abandoned the principles of small government, the right of Australian politics are now urging Australia to embrace Donald Trump’s attack on international agreements. Is there any institution these so-called “conservatives” aren’t willing to wreck in pursuit of
Braddon: New Polling shows concern over Company Tax cuts, support for Penalty rates and a gain in the ALP Primary vote
The Australia Institute commissioned ReachTEL to poll the federal seats of Braddon (700 respondents) on the evening of Friday 6 July. Key Findings: A rise in the Labor primary vote to 36.3 (compared to 33% in a Sky ReachTel poll at the beginning of June) A fall in the Liberal primary vote to 42.9 (compared
Penalty rate cuts fail to ignite jobs boom
Reduced Sunday and holiday penalty rates for retail and hospitality workers failed to ignite the boom in employment as promised by employer groups who supported the change.
How ‘free marketeers’ killed Neoliberalism
By Richard Denniss, Chief Economist at The Australia Institute [Read in the Sydney Morning Herald here] Economic rationalism and neoliberalism are dead in Australia. In an unexpected twist, the idea that markets are good and governments are bad was killed by the right wing of Australian politics, who simply couldn’t resist the desire to shovel
Majority want CEO salaries capped
A new national poll, conducted by The Australia Institute, has found a majority of Australians support placing a strict limit on the maximum salary for CEOs or executive staff, with four out of five saying CEOs are paid too much. The poll follows a report by The Australia Institute that showed ten years on from
June 2018
The real question on subsidies is, what do we want less of?
By Richard Denniss, Chief Economist at The Australia Institute. [Read this article in the Syndey Morning Herald] One thing that unites the Australian Parliament is that subsidies are a great idea. Whether it’s the Liberals’ enthusiasm for subsidising weapons exports, the Nationals’ love of subsidising coal mines, Labor’s love of subsidising manufacturing or the Greens
Government delays company tax cut legislation
The Government has announced it will delay Senate vote on company tax legislation until after the winter recess. Meanwhile, research from The Australia Institute has demonstrated the economic case for a company tax cut for big business has not been made. “Company tax cuts will not lead to greater economic prosperity. In fact modelling from
Cutting through the Company Tax Cuts Guff
Below you will find all research papers on company tax cuts produced by The Australia Institute to date [updated 25.06.18] The big four banks get an extra $7.4 billion dollars: Australia’s big four banks are some of the most profitable banks in the world and are the big winners here, getting an extra $7.4 billion dollars in the first 10
Manufacturing Rebound Could Be Cut Short By Skills Shortage
After years of decline, Australia’s manufacturing industry is finally recovering – adding almost 50,000 jobs in the last year, one of the best job-creation records of any sector in the whole economy. But that recovery could be cut short by growing shortages of skilled workers, according to a new report on vocational training in manufacturing.
Voters just don’t like company tax cuts
By Richard Denniss, Chief Economist at The Australia Institute [Read in the Australian Financial Review here] The budget emergency is over. Even though Commonwealth debt has risen from $317 billion to $561 billion. Since Tony Abbott was elected, declaring a fiscal emergency, the Coalition has now flicked the switch to optimism and proposing $200 billion
Longman and Mayo: New Polling on Company Tax Cuts and Voter Priorities for Government Revenue
The Australia Institute commissioned ReachTEL to poll the federal seats of Mayo (736 respondents) and Longman (727 respondents) on the evening of Thursday June 21. Key Findings: 50/50 TPP in Longman 62/38 TPP favouring Centre Alliance candidate Rebekah Sharkie in Mayo Mayo: 24.9% support for cutting company tax rate for large business (71% want tax
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