corporate tax rate

Trump’s tax cuts for the rich excites Turnbull government

Prime Minister Malcolm Turnbull has seized on International Monetary Fund (IMF) forecasts predicting a rise in global economic growth following the US administration’s corporate tax cuts, to call for similar cuts here.

Describing the proposed cut as an “enterprise tax program”, Turnbull said on January 22 that the measure would “result in more investment and more jobs” — despite significant evidence that “trickle down” economics does not work.

Treasurer Scott Morrison has demanded that Labor supports its proposal to cut the tax rate for big business from 30% to 25%.

Companies should pay more tax or piss off

At ANZ’s Annual General Meeting in December last year, chairperson David Gonski asked why any corporation would stay in Australia where they are taxed "so highly" in comparison to other countries?

The response to this is that companies should be made to pay even more tax, and those which pay none should be made to pay. More than one third of large public and private companies paid no tax in 2014-15.