Finance Minister Mathias Cormann continues to claim that corporate tax cuts are necessary to ensure that Australian businesses are internationally competitive. Accordingly, the Government will seek a Senate vote on the company tax cut package within two weeks so that the measure can be included in the May Budget.
In order to pass the Senate, the Government needs the support of nine crossbenchers. The Nick Xenophon Team opposes the tax cuts on Budget sustainability grounds, whereas One Nation leader Pauline Hanson remains unconvinced that reducing the tax rate for all companies to 25% will result in higher growth in wages. From The Canberra Times: