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.
| $ million | |
|---|---|
| Profit 2017-18 | 194.8 |
| Company tax 2017-18 | 21.6 |
| Benefit from company tax cut based on 2017-18 profit | 3.6 |
| Benefit from company tax cut based on expected 2026-27 profit | 5.3 |
| Benefit from company tax cut for decade 2019-20 to 2028-29 | 26.0 |
| Benefit from company tax cut for decade beginning 2026-27. | 65.4 |
When the full cuts come in (2026-27) the lost company tax revenue just to Sydney Airport would be the equivalent of employing 72 nurses, 65 secondary school teachers or 54 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 Sydney Airport’s profit.)
Between the Lines Newsletter
The biggest stories and the best analysis from the team at the Australia Institute, delivered to your inbox every fortnight.
You might also like
Good policy is a choice | Between the Lines
The Wrap with Greg Jericho Governments can change the country for the better or worse. Failure to act for 26 years on housing affordability has left many Australians renting for most of their adult lives and led to for the first time since WWII, most Australians in their early 30s not owning their own home.
Hope is alive | Between the Lines
The Wrap with Emma Shortis One year after Donald Trump was elected President of the United States for a second time, New York City elected a self-declared “democratic socialist” as Mayor. Zohran Mamdani beat independent candidate, disgraced former Democrat Andrew Cuomo, by nine percentage points. In Virginia and New Jersey too, Democrats swept to double-digit victories. In California, Governor Gavin Newsom’s
Airport exploits set to continue over Xmas despite Productivity Commission Report
New research released today by the Australia Institute shows that airports in Australia are exploiting their monopoly power to make excessive profits, and that this major issue is being overlooked by the Productivity Commission. Over the Christmas holiday period, Australia’s airports are likely to be busier than ever. And as a result, passengers are going