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 on 2017-18 profit             120
Benefit from company tax cut based on expected 2026-27 profit             177
Benefit from company tax cut for decade 2019-20 to 2028-29             865
Benefit from company tax cut for decade beginning 2026-27. 2,175

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When the full cuts come in (2026-27) the lost company tax revenue just to Woolworths Group would be the equivalent of employing 2,397 nurses, 2,160 secondary school teachers or 1,790 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 Woolworths Group’s profit.)

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