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 2017-18 profit 84
Benefit from company tax cut based on expected 2026-27 profit 124
Benefit from company tax cut for decade 2019-20 to 2028-29 609
Benefit from company tax cut for decade beginning 2026-27. 1,530

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When the full cuts come in (2026-27) the lost company tax revenue just to Suncorp would be the equivalent of employing 1,686 nurses, 1,519 secondary school teachers or 1,259 police officers.

(Based on the average payments for different occupations in May 2016 and updating for the actual and projected wage price index, and projecting forward Suncorp’s profit.)

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