Original article by David Uren
The Australian – Page: 1 & 4 : 9-Nov-17
The tax rate for large Australian companies has remained unchanged since 2000, when it was reduced to 30 per cent. However, the average company tax rate in advanced countries has fallen from 32 per cent to just 24 per cent over the last 17 years. The Treasury has warned that Australia’s ability to attract business investment will be adversely affected if the nation fails to respond to plans by the US to slash its company tax rate, while Australia will also face lower growth in GDP and real wages. Business Council of Australia CEO Jennifer Westacott has urged a reduction in the company tax rate.
AUSTRALIA. DEPT OF THE TREASURY, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY