Cutting company taxes would be a grave mistake

Monday 15 July 2024

Neoliberal economist Richard Holden has called on Australia to cut its company tax rate after new figures from the OECD shows that Australian companies pay the second-highest effective rate in the world.

The OECD showed that Australian companies paid an effective average tax rate of 28.5% on their income in 2022, higher than the OECD average of 22%.

“Almost every other country has been reducing their rates over time, and we haven’t”, Holden said.

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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.