Government-owned corporations could face executive pay and bonuses inquiry

Chair of the corporate regulator ASIC James Shipton stood aside pending investigation on Friday, when it was revealed the commission had picked up the tab for $120,000 worth of tax advice for himself, and $70,000 in rent payments for his deputy chair Daniel Crennan.

Australia Post's chief Christine Holgate has also stood aside pending investigation, after it was revealed four executives at the government-owned business were rewarded for their work with Cartier watches, worth almost $20,000 in total.

It has been reported the government is going to take a wider look at all government-owned entities, which includes the NBN, Snowy Hydro and the ABC, to see just how public money is being spent.

Labor's spokeswoman for finance and the public service Katy Gallagher said Australians deserve to know that they are getting value for money when it comes to remuneration and conditions for the highly paid officials.

"There are senior officials that earn over $1 million each year including the Prime Minister's own department head who earns over $900,000. These are not insignificant salaries," she said.

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"In light of the recent revelations about the dodgy Western Sydney land deal and the conduct of senior executives and officials at Australia Post and ASIC, we are considering options to ensure that public funds are being used appropriately and that high standards of integrity critical to a well performing public service are maintained."

Liberal MP Andrew Laming said on the ABC that there should be uniform salary structures for government business enterprises.