Tin ear Coalition goes all in on company tax cuts
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After the Senate cross-bench yesterday extended an olive branch to the Turnbull Government, and offered to bring forward tax cuts for businesses with turnover of less than $50 million, Finance Minister Mathias Cormann has signalled the Government will seek passage of its full company tax cuts package through the Senate by 23 August, while also ruling-out imposing a revenue cap of $500 million on the tax cuts. From The Australian:
The government’s lead negotiator with the Senate crossbench also confirmed a vote for the remaining tax cuts for businesses turning over more than $50m would be held before August 23.
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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.