Overall income

In this report ‘income’ refers to total income as reported in corporations’ audited financial statements or general reports. This may include self-generated income, government grants, distributions from trusts, philanthropic gifts and other income sources.

In 2015–16 the combined income of the top 500 corporations was $1.92 billion, an increase from $1.88 billion in 2014–15 (nominal increase was 1.9 per cent—significantly slower growth compared to 8.2 per cent in the previous year).

The overall income generated by the top 500 corporations has in the main continued an upward trend over the past decade. The only year to see a decline was 2009–10.

Overall income in 2015–16 was more than double the overall income 10 years ago—increasing from $865 million in 2005–06 to $1.92 billion in 2015–16 (figure 4). Over the same period the annual average growth rate was 8.3 per cent.

The average income across the top 500 corporations in 2015–16 was $3.84 million, up from $3.76 million in 2014–15.

Figure 4: Changes in overall income of the top 500 corporations, 2005–06 to 2015–16

Geographic share of the overall income

Figure 5: Geographic share—overall income compared to number corporations, 2015–16

Figure 5 shows that in 2015–16 the Northern Territory alone accounted for just under half (47.1 per cent) of the overall income of the top 500 corporations. It increased its share by 2.9 per cent from 2014–15 when it represented 44.2 per cent. When combined, the Northern Territory and Western Australia accounted for 72.3 per cent of overall income in 2015–16.

The percentage share of income for each jurisdiction remained fairly consistent with 2014–15. Queensland, although with six fewer corporations, did not change its percentage share of income at all. Northern Territory experienced the greatest increase in its share of the overall income (2.9 per cent) and Western Australia the greatest decrease (3.5 per cent). All other states/territories changed each of their shares by less than 0.5 per cent.

Variances in income

Table 2: Income and assets of the top 500 corporations ranked highest and lowest, 2015–16

There was a significant difference between the income and assets of the corporation ranked number 1 and the corporation ranked number 500 (table 2). The top ranked corporation generated $95,536,455 during 2015–16, which is 238 times more than the $399,960 earned by the corporation ranked at number 500.

The income of the highest ranked corporation in 2015–16 has grown by 7.5 per cent from 2014–15 (its 2014–15 income was $88,873,326). The income of the 500th ranking also increased, by 28.7 per cent (from $310,716 in 2014–15 to $399,960 in 2015–16).

In this year’s report the highest ranked corporation has maintained the top position from last year. The income history of this corporation is:

• 2011–12 $44,759,708
• 2012–13 $47,081,917
• 2013–14 $59,648,789
• 2014–15 $88,873,326
• 2015–16 $95,536,455.

A total of 137 of the 500 corporations improved their ranking this year and 291 decreased their ranking. Thirteen corporations maintained the same ranking. There were 59 new entries, which means there were also 59 departures—see the appendix for further details.

Of the 59 new entries:

• 24 increased their income, bringing them into the top 500 range
• 12 were omitted from last year’s ranking because they lodged their reports after the report was prepared
• 23 were new registrations, including 16 transfers of existing entities from other incorporation regimes.

Of the 59 departures, 15 corporations (25.4 per cent) dropped out because by the time this report was prepared they had either not lodged their 2015–16 financial statements or the reports they lodged did not include financial data—either the corporations sought an extension of time to report, or they were simply late.

Seven of the top 10 corporations for 2014–15 remained in the top 10 for 2015–16. The top five remained unchanged in their positions since last year.