The AFR reports that the Coalition is pushing ahead with plans to bring forward previously legislated tax cuts for small and medium businesses with turnover of $50 million or less to 2021-22 from 2026-27, which would cost up to $3.6 billion. Labor opposes a further reduction in the small business tax rate, but it could face the prospect of having to go into the election with a policy of reversing the additional tax cuts:
The government has already decided it will fast-track the tax cuts that have been legislated for businesses with turnovers capped at $50 million but that change will require new legislation…