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Six-year trend analysis

Last updated 9 December 2020

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 six 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 therefore 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 six years. The mining, energy and water segment has contributed to overall growth in taxable income in the total population over the past three years.

The following figures illustrate the changes by industry segment in tax payable, total income, taxable income, and entity counts over the six years since the first report on corporate tax transparency was released.

Figure 3 and Figure 4 illustrate the trend in tax payable by industry segment in the six years to 2018–19. Table 1 summarises this data.

Figure 3: Six-year trend of tax payable by industry segment

This column graph shows the trend in tax payable across the six years of 2013–14 to 2018–19, by industry segment (banking, finance and investment; insurance; manufacturing, construction and agriculture; wholesale, retail and services; and mining, energy and water). With the exception of the mining, energy and water segment which dropped in 2015–16 before increasing again until 2018–19, the tax payable across all other industry segments steadily increased until the first drop in 2018–19. This graph also shows that aggregate tax payable has increased across the six years, except for 2015–16 where it was affected by the mining industry.

Figure 4: Six-year trend of tax payable by industry segment

Like in Figure 3, this graph shows the trend in tax payable across the six years of 2013–14 to 2018–19, but in the form of an area graph. The data is broken down by industry segment (banking, finance and investment; insurance; manufacturing, construction and agriculture; wholesale, retail and services; and mining, energy and water).
Table 1: Six-year trend of tax payable by industry segment ($b)

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 below illustrate the trend in total income by industry segment in the six years to 2018–19. Table 2 summarises this data.

Figure 5: Six-year trend of total income by industry segment

This column graph shows the trend of total income across the six years of 2013–14 to 2018–19, by industry segment (banking, finance and investment; insurance; manufacturing, construction and agriculture; wholesale, retail and services; and mining, energy and water). With the exception of the banking, finance and investment segment which increased in 2015–16 before dropping slightly in 2016–17 and again in 2018–19, and the mining, energy and water segment which dropped in 2015–16 before increasing again in 2016–17, the total income across industry segments has remained broadly stable. This graph also shows that across all industry segments there was an overall increase in total income each year..

Figure 6: Six-year trend of total income by industry segment

Like in Figure 5, this graph shows the trend in total income across the six years of 2013–14 to 2018–19, but in the form of an area graph. The data is broken down by industry segment (banking, finance and investment; insurance; manufacturing, construction and agriculture; wholesale, retail and services; and mining, energy and water).

Table 2: Six-year trend of total income by industry segment ($b)

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 illustrate the trend in taxable income by industry segment in the six years to 2018–19. Table 3 summarises this data.

Figure 7: Six-year trend of taxable income by industry segment

This column graph shows the trend of taxable income across the six years of 2013–14 to 2018–19, by industry segment (banking, finance and investment; insurance; manufacturing, construction and agriculture; wholesale, retail and services; and mining, energy and water). With the exception of the mining, energy and water segment which dropped in 2015–16 before increasing again in 2016–17, and the banking, finance and investment segment which increased in 2015–16 before dropping slightly in 2016–17 and again in 2018–19, the taxable income across industry segments has remained broadly stable. This graph also shows that across all industry segments for all six years there had been an overall decline in taxable income, which recovered in 2016–17.

Figure 8: Six-year trend of taxable income by industry segment

Like in Figure 7, this graph shows the trend in taxable income across the six years of 2013–14 to 2018–19, but in the form of an area graph. The data is broken down by industry segment (banking, finance and investment; insurance; manufacturing, construction and agriculture; wholesale, retail and services; and mining, energy and water).
Table 3: Six-year trend of taxable income by industry segment ($b)

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 illustrate the count of entities by industry segment in the six years to 2018–19. Table 4 summarises this data.

Figure 9: Count of entities by industry segment over six years

This column graph shows the trend in the number of entities in the population across the six years of 2013–14 to 2018–19, by industry segment (banking, finance and investment; insurance; manufacturing, construction and agriculture; wholesale, retail and services; and mining, energy and water). The entity count across industry segments has remained broadly stable, with the exception of wholesale, retail and services which has shown a year-on-year increase. This graph also shows that across all industry segments for all six years there had been an overall increase in the entity count.

Figure 10: Count of entities by industry segment over six years

Like in Figure 9, this graph shows the trend in the number of entities in the population across the six years of 2013–14 to 2018–19, but in the form of an area graph. It is broken down by industry segment (banking, finance and investment; insurance; manufacturing, construction and agriculture; wholesale, retail and services; and mining, energy and water).
Table 4: Count of entities by industry segment

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

QC64354