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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