The Australian Competition and Consumer Commission has announced the top five “top performing” businesses in the country in 2017.
The announcement is a further boost to the Australian Bureau of Statistics (ABS) latest annual Consumer Price Index (CPI) report, which shows a significant decline in the number of households in Australia having access to bank cards.
According to the ABS data, the number one performing business in Australia in 2017 was the Australian Government’s national security department, which recorded an average revenue of $5.3 billion and a net income of $1.2 billion.
The Government was also the top performing business, earning $4.5 billion and net income was $1 billion.
In 2017, the top 10 performing businesses across the country were: Australian Government The Commonwealth Bank of Australia The Australian Financial Services Union (AFSU) The Australian Taxation Office The Australian Museum The Australian Broadcasting Corporation The Australian Institute of Pharmaceutical Science The Australian Mining and Energy Union The Australian Postal Service The Australian Hospital Association The Australian Maritime and Coastguard Agency The Australian Conservation Foundation The Australian Veterinary Medical Association The Royal Commission into Institutional Responses to Child Sexual Abuse The Australian National Audit Office The Financial Services Council The Australian Council of Social Service The Department of Education and Training The Australian Human Rights Commission The Australian Bureau for Statistics The Australian Industry Group The Australian Manufacturing Workers’ Union The Food and Drink Federation The Building Industry Union The Construction and Engineering Union The Building Trades Union The Federal Government The Health Service Union The Human Services Council of AustraliaThe International Association of Machinists and Aerospace Workers The International Association for the Conservation of Antarctic Artisans The Australian Building and Construction Trades Association The International Society of Information Systems The Australian Chamber of Commerce and Industry The Australian Federation of Students The Australian Medical Association and the Australian Medical Council The National Farmers’ UnionThe Australian Competition CommissionThe National Farmers FederationThe Australian Industry and Business CouncilThe National Federation of Independent BusinessThe National Association of Teachers and LecturersThe National Health and Medical Research CouncilThe New South Wales Farmers’ FederationThe Office of the Australian Federal PoliceThe Australian Manufacturing Industry AssociationThe Australian Nurses AssociationThe Office for Fair TradingThe Office Of The National Health MinisterThe Australian Tax OfficeThe Australian Water Resources AssociationThe Department of Environment and EnergyThe Australian Human Resources and Employment Services (AHRES)The Australian Veterinary Medicines AssociationThe Business Council of New South AustraliaThe Commonwealth Bank Of AustraliaThe Department Of FinanceThe Department for Home AffairsThe Department For Business, Innovation and EmploymentThe Department New South, State and Territory Of State and TerritoriesThe Department Australian MuseumThe Department Agriculture, Fisheries and ForestryThe Department Health, Human Services and AgeingThe Department Industry, Research and InnovationThe Department Human Services The Department Intellectual Property The Department Legal and Human ServicesThe Department Indigenous AffairsThe Government Business ServicesThe Government Communications and Media The Government Operations CentreThe Department Public WorksThe Government Transport and InfrastructureThe Department The Australian Prudential Regulation AuthorityThe Department TreasurerThe Federal GovernmentThe Commonwealth GovernmentThe Australian Bankers AssociationThe Bureau of MeteorologyThe Bank of New ZealandThe Bank Of New Zealand Banking GroupThe Australian Institute Of ArchitectsThe Bankers’ Association of New England The Australian Glass Institute The Bankers of New York The Bank of Singapore The Bank Of Melbourne The BankOf CanadaThe Banker’s Association of AustraliaThere are more than 1.1 million Australians living in the “cashless” economy, and it is estimated that 1.6 million people will be living in a cashless society by 2025.
The Australian Government says that the cashless economy will result in an estimated $7 billion worth of revenue being generated by businesses, and that the “impact on the economy could be as great as $7 trillion in the long run”.
However, the ABS says that there will be significant barriers to accessing credit for some people, and the number who will be able to access credit will be much lower than that projected.
The ABS says the number and distribution of households will increase as a result of a cashlessness society, and there will also be a reduction in employment opportunities for people with lower incomes and employment levels.
The number of Australian businesses will also decline, with the number in the top ten businesses declining by 7.2 per cent.
However, it will be noted that the top 20 companies are the five most performing businesses in Australia, and will also account for over 80 per cent of total Australian business profits.
The top ten Australian businesses are: Australia Government The Australian Business Association The Australia Institute of Architects The Australian School of Management The Australian Professional School of Business The Australian College of Surgeons The Australian Chemical and Biomolecular Laboratory The Australian Pharmaceutical and Pharmaceutical Sciences Organisation The Australian Public Service Commission The Commonwealth Office Of Communications The Commonwealth Of Australia The Commonwealth Government The Communications, Communications Media and Media Management Agency The Council of Australian Governments The Council Of Australian Governments and the Department Of Education and Retention The Department Of Foreign Affairs The Department For Home Affairs The Departments