Australia Post's Ability to Pay
Australia Posts Annual Report for 2012 shows the before tax profit was $366.7m (after tax $281.2m). The Commonwealth Government was paid a dividend of $213.7m (a return on equity of a whopping 18.7%)
Australia Post also paid $85.5m in tax.
Had the profit been reduced (through increased payments to LPOs and contractors), the dividend reduced to a reasonable return on equity (currently around 5%), then Post's tax obligations would also have been reduced.
The gross profit and Commonwealth dividend ( reduced to a reasonable 5% on assets) would have been ($366.7m plus $156.6M) or $523.3M
This equates to around $185,000 for 2800 LPOs. I would be happy with 50/50 split.