Original article by Rosie Lewis
The Australian – Page: 6 : 23-Aug-18
The Senate has voted against the Federal Government’s company tax cuts package, which would have progressively reduced the tax rate for businesses with turnover of more than $50m from 30 per cent to 25 per cent. Prime Minister Malcolm Turnbull says tax cuts for larger companies will not be on the Coalition’s agenda for the next election. The government will instead look at options for bringing forward tax cuts for businesses with turnover of up to $50m that have already been legislated. An amendment to exclude the major banks from the proposed tax cuts was also rejected by the upper house.
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, CENTRE ALLIANCE, ONE NATION PARTY, THE AUSTRALIAN INDUSTRY GROUP