The Morrison Government is reportedly looking to resurrect the Coalition’s failed large company tax cuts, which were scuttled by the Senate in 2018.
Yesterday, Treasurer Josh Frydenberg labelled Australia’s company tax rate as “uncompetitively high rate at 30 cents in the dollar” and stated that the Government would “continue to retain an open mind as to how we can go forward to lower the tax burden overall”.
This drew immediate praise from the Business Council of Australia, which claimed that a company tax rate of 25% is vital to help Australia bounce back from the coronavirus crisis.
