Prime Minister Malcolm Turnbull Case Study - Accounting Assignment Help

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Prime Minister Malcolm Turnbull says the $5.6 million salary of Australia Post boss Ahmed Fahour is "too high", a day after the Senate thwarted efforts to keep Australia's biggest public service pay packet secret. 

A Senate committee on Tuesday refused the company's request to keep Mr Fahour's salary and bonuses confidential after deciding it was overwhelmingly in the public interest. 

Documents show one senior executive of the government owned company, understood to be Mr Fahour, received a $4.4 million salary with bonuses and $1.2 million in superannuation, while five other executives received salaries of between $1.3 million and $1.8 million. 

Mr Turnbull, who is paid $507,338 a year, said he had told Australia Post chairman John 

Stanhope he believed the salary was too high. 

"The Australia Post board is independent, it makes its own commercial decisions so this is not a decision of the government," Mr Turnbull said. 

"As the Prime Minister and a taxpayer, I've spoken to the chairman today. I think that salary, that remuneration, is too high. 

"I know it's a big job, it's a big company. I know the company has been able to improve its position but, in my view, and I say this as someone who spent most of his life in the business world before I came into politics, I think that is a very big salary for that job. 

"I'm entitled to my opinion, just like every other Australian is, and I think many would agree with me." 

An Australia Post spokesman said Mr Fahour's pay "takes into account the size and complexity of the organisation, which has an annual turnover of more than $6 billion". 

"Mr Fahour's remuneration in financial year 2016 included a performance-based short-term bonus in line with Australia Post returning to profit. The previous year he did not receive a bonus. 

"Total executive remuneration has not increased since 2014 when the executive last received their full eligible performance bonus." 

The company published detailed information about executive salaries up until its 2014-15 annual report. 

The last time Mr Fahour's salary was listed was in the 2013-14 annual report, when he received a salary of $1.7 million and a bonus of $2.6 million. In 2016, Australia Post refused to reveal how much it paid Mr Fahour, blocking a freedom of information request

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