With the Turnbull Government seeking to pass its full company tax cuts package in the Senate when parliament resumes in mid-August, which faces defeat by the Senate cross-bench, One Nation and Centre Alliance senators have signalled that they are willing to support any proposal to bring forward tax cuts for businesses with turnover of less than $50 million. From The AFR:
While no final position has been taken, both Senate parties stressed again on Monday their reluctance to grant further tax cuts. But both said they had no problem with fast tracking the tax cuts that had already been legislated for companies with turnovers under $50 million. These companies have already had their rate reduced from 30 per cent to 27.5 per cent and it is scheduled to fall to 25 per cent in 2026-27…
