An independent think tank says it doesn't make sense to be considering a cut in the company tax rate when the federal budget is already facing a revenue challenge.
The Turnbull government insists that everything is on the table when it comes to reforming the tax system.
But an analysis by the Australia Institute says lowering the company tax rate to 25 per cent, from 30 per cent, would reduce revenue by almost $27 billion over the next decade.
"If we are to meet the health and education needs that a prosperous economy requires ... a multi-billion dollar tax cut for some of the most profitable companies doesn't make sense," the think tank's executive director Ben Oquist said on Tuesday.
The latest Essential Research online survey also showed that Australians don't believe corporations pay enough.
It found that 59 per cent of respondents are "bothered a lot" that businesses don't pay their fair share of tax.
The institute's research shows Australia's already highly-profitable four largest banks would stand to gain $2 billion in just one year from a tax rate cut to 25 per cent.
At the same time, just two of Australia's biggest coal companies would stand to gain a combined $9.3 billion over the next decade.
"There is also a real risk that by creating a bigger disparity between company and income tax, there will be more incentives for high-income individuals to avoid income tax by incorporating," Mr Oquist said.
The Essential poll also found that 54 per cent of respondents are "bothered a lot" by the feeling that some wealthy people don't pay their fair share of tax.
These findings follow a report on Monday by Deloitte Access Economics that predicted the mid-year budget review - due in a few weeks time - will show deficits have deteriorated by $38 billion over the next four years.
This is largely the result of a hit to company tax receipts from a decline in the Chinese economy.
