The AFR reports that the Coalition’s plan to bring forward previously legislated tax cuts for small and medium businesses with turnover of $50 million or less to 2021-22 would cost up to $3.6 billion, with the Government also seeking to mirror Labor’s Investment Guarantee policy:
At present, the company tax rate for firms with annual turnovers capped at $50 million is 27.5 per cent. It is scheduled to drop to 25 per cent in 2026-27. Labor, if elected, will legislate to keep the rate at 27.5 per cent and prevent any further drop.
