August 2018
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
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
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