Original article by Simon Benson
The Australian – Page: 1 & 4 : 8-Nov-17
A new report from the Treasury has concluded that the Federal Government’s proposed $A65bn corporate tax cuts proposal would result in a total tax revenue gain of about $A30bn. The research paper estimates that reducing the company tax rate from 30 per cent to 25 per cent will increase the size of the domestic economy by more than one per cent over the long-term. The report also notes that the average company tax rate among OECD nations has fallen to 24 per cent, compared with 32 per cent in 2000, and it warns that Australia could face a permanent reduction in both GDP and real wages if it fails to take similar action.
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT