EXECUTIVES at the company building the national broadband network pocketed more than $600,000 in bonuses last financial year despite the project running a year behind schedule.
The NBN Co annual report, which was released late on Friday, also reveals about $500,000 in termination payments.
The report shows the company is spending 25 times more on salaries than it earned from selling broadband to customers.
NBN Co confirms in the report that the rollout of the network is a year behind schedule, with just 24,000 homes and businesses connected at the end of September - about 10 per cent of the original target.
Opposition communications spokesman Malcolm Turnbull said the government should rein in NBN Co over its poor performance.
''[Treasurer] Wayne Swan wrote an article today boasting he has empowered 'shareholders to help tame executive pay in the companies they themselves own','' he said.
''Australian taxpayers are the owners of NBN Co, and many of them may ask why executives are being paid six-figure bonuses when the rollout is so far behind schedule and NBN costs so far above budget.''
The report does not provide a breakdown of what each executive received, but NBN Co boss Mike Quigley told The Age in June he would forgo annual bonuses because of his objections to short-term incentive schemes. Last year it is understood he forfeited $314,000 in bonuses.
Mr Turnbull pointed to high spending on corporate travel and legal fees as proof of the blowout in costs associated with one of the government's marquee infrastructure projects.
A spokesman for Communications Minister Stephen Conroy said the government did not comment on salaries but remained committed to its target of having construction completed or begun in 758,000 homes and businesses by the end of the year.
The federal government will release its budget update this week amid speculation it will have to find savings of as much as $4 billion to keep a surplus.
Yesterday, the government revealed a $21 billion shortfall in tax revenue as a result of worsening international conditions and collapsing export prices.
The opposition has accused the government of trying to rush the update out before it receives any more bad economic news.
Among the areas rumoured to be cut are university research grants and superannuation concessions.
There will be some modest spending announcements, including $10 million for a new consumers' superannuation centre.