The phoney war to cut company taxes

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By Leith van Onselen

Treasurer Scott Morrison has stepped-up the attack on the Nick Xenophon Team, which opposes cutting company taxes, taking the fight directly to Xenophon’s home state of South Australia. From The AFR:

With the Nick Xenophon Team of three senators is prepared only to allow a tax cut for companies with turnovers capped at $10 million, the Treasurer will today mount a blitz in Adelaide to highlight the importance to the state’s economy of its companies with turnovers up to $50 million. The government has the support of other crossbench senators from One Nation and independents David Leyonhjelm and Bob Day to cut taxes for companies with at least that turnover but needs the NXT as well.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.