Tag Archive: tax cuts

The Potential Problem with the Turnbull Government’s Company Tax Cuts

Scott Morrison - Treasurer announced the tax cuts.

Scott Morrison – Treasurer announced the tax cuts.

An article on Smh.com.au recently discussed the potential problem with the Turnbull Government’s Company Tax Cuts which some say will send the budget backwards.

A company tax cut would cost Canberra more than $8billion a year in revenue while recovering only a fraction of that through the extra growth in jobs and wages predicted.

The government announced in its May budget that it would cut the corporate tax rate from 30 cents in the dollar to 25 cents for all companies by 2026-27, and conceded some days later that this move would cost the budget an estimated $48.2 billion over the decade.

Read more at http://www.smh.com.au/federal-politics/federal-election-2016/election-2016-the-potential-problem-with-the-turnbull-governments-company-tax-claims-20160529-gp6ika.html