Original article by Joe Kelly
The Australian – Page: 4 : 16-May-18

The tax rate for companies with turnover of up to $A50m is slated to be reduced to 27.5 per cent on 1 July, as part of the Federal Government’s enterprise tax plan. Opposition Leader Bill Shorten has committed to supporting tax cuts for businesses with turnover of up to $A2m, although Labor is believed to be open to raising this threshold to $A10m. Senate crossbencher Derryn Hinch says Labor should not seek to reverse the legislated tax cuts if it wins the next election.

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AUSTRALIAN LABOR PARTY, AUSTRALIA. PARLIAMENTARY BUDGET OFFICE, MASTER GROCERS’ AUSTRALIA PTY LTD, IGA, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE