3.55 Million Workers Will Benefit From Enterprise Tax Plan No.2

3.55 Million Workers Will Benefit From Enterprise Tax Plan No.2

The Coalition’s proposed Treasury Laws Amendment (Enterprise Tax Plan No. 2) will reduce corporate taxation from 30% to 25% over 2019-2027 for all businesses.1 This builds on Treasury Laws Amendment (Enterprise Tax Plan) Act 2017 which reduced corporate taxation from 28.5% to 27.5% for companies under $25 million turnover in 2017-18, and from 30% to 27.5% for companies under $50 million turnover in 2018-2019.

The extension of corporate tax reductions to firms with over $50 million turnover will benefit companies that employ 3.55 million Australians – boosting economic growth, increasing wages and securing jobs.

Here are three reasons why corporate tax cuts should be extended to large business:

 

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