Since the start of this report in 2013–14, increases in the number of entities in each industry has been a key contributing factor to growth in tax paid and income across all segments. The exception is the mining, energy and water segment, where commodity prices and export volumes have been key contributing factors in volatility in total income and tax payable.
All other segments experienced relatively stable growth in tax payable over the 6 years. However, there was a decline in 2018–19 which reflects a softening in non-mining sector corporate profits and the impact of challenging market conditions.
Taxable income is a corporate's total income minus expenses and is affected by revenue growth and market conditions affecting deductions (for example, interest rates changes will affect a corporate's borrowing expenses). Non-mining segments have relatively low growth in taxable income over the past 6 years. The mining, energy and water segment has contributed to overall growth in taxable income in the total population over the past 3 years.
The following figures show the changes by industry segment in tax payable, total income, taxable income, and entity counts over the 6 years since the first report on corporate tax transparency was released.
Figure 3 and Figure 4 show the trend in tax payable by industry segment in the 6 years to 2018–19. Table 1 summarises this data.
Figure 3: Six-year trend of tax payable by industry segment
Figure 4: Six-year trend of tax payable by industry segment
Industry segment | 2013–14 | 2014–15 | 2015–16 | 2016–17 | 2017–18 | 2018–19 |
---|---|---|---|---|---|---|
BFI | 12.6 | 14.1 | 14.5 | 15.5 | 16.2 | 14.9 |
ISR | 2.2 | 2.4 | 2.5 | 2.7 | 2.7 | 2.2 |
MCA | 2.6 | 3.6 | 3.3 | 3.5 | 4.1 | 3.6 |
WRS | 11.3 | 11.5 | 11.6 | 11.9 | 13.2 | 12.4 |
MIN | 13.2 | 10.3 | 6.3 | 12.1 | 16.1 | 22.9 |
All industry segments | 41.9 | 41.9 | 38.2 | 45.7 | 52.3 | 56.1 |
Figures 5 and 6 show the trend in total income by industry segment in the 6 years to 2018–19. Table 2 summarises this data.
Figure 5: Six-year trend of total income by industry segment
Figure 6: Six-year trend of total income by industry segment
Industry segment | 2013–14 | 2014–15 | 2015–16 | 2016–17 | 2017–18 | 2018–19 |
---|---|---|---|---|---|---|
BFI | 286.0 | 263.7 | 312.4 | 269.6 | 291.3 | 284.1 |
ISR | 111.1 | 119.8 | 122.6 | 116.2 | 121.5 | 132.3 |
MCA | 269.4 | 281.3 | 301.2 | 301.0 | 332.5 | 336.1 |
WRS | 744.7 | 770.5 | 795.5 | 824.3 | 882.7 | 933.9 |
MIN | 363.4 | 345.8 | 312.2 | 337.0 | 371.9 | 442.4 |
All industry segments | 1,774.6 | 1,781.1 | 1,843.8 | 1,848.1 | 2,000.0 | 2,128.7 |
Figures 7 and 8 below show the trend in taxable income by industry segment in the 6 years to 2018–19. Table 3 summarises this data.
Figure 7: Six-year trend of taxable income by industry segment
Figure 8: Six-year trend of taxable income by industry segment
Industry segment | 2013–14 | 2014–15 | 2015–16 | 2016–17 | 2017–18 | 2018–19 |
---|---|---|---|---|---|---|
BFI | 60.4 | 55.5 | 70.8 | 63.3 | 74.8 | 63.8 |
ISR | 11.5 | 12.3 | 13.1 | 14.5 | 14.4 | 12.7 |
MCA | 10.0 | 13.1 | 12.4 | 12.7 | 14.8 | 15.5 |
WRS | 34.7 | 36.8 | 34.7 | 35.3 | 40.3 | 37.1 |
MIN | 40.0 | 27.3 | 11.0 | 30.3 | 49.2 | 79.1 |
All industry segments | 156.5 | 145.1 | 142.0 | 156.2 | 193.5 | 208.2 |
Figures 9 and 10 below show the count of entities by industry segment in the 6 years to 2018–19. Table 4 summarises this data.
Figure 9: Count of entities by industry segment over six years
Figure 10: Count of entities by industry segment over six years
Industry segment | 2013–14 | 2014–15 | 2015–16 | 2016–17 | 2017–18 | 2018–19 |
---|---|---|---|---|---|---|
BFI | 179 | 180 | 192 | 203 | 215 | 220 |
ISR | 54 | 60 | 61 | 62 | 61 | 66 |
MCA | 429 | 429 | 468 | 485 | 502 | 529 |
WRS | 948 | 991 | 1,084 | 1,126 | 1,192 | 1,240 |
MIN | 249 | 244 | 236 | 233 | 244 | 256 |
All industry segments | 1,859 | 1,904 | 2,041 | 2,109 | 2,214 | 2,311 |