Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 21-Sep-18
Federal government sources have indicated that the Coalition is likely to seek to pass legislation prior to the next election aimed at bringing forward tax cuts for businesses with turnover of up to $50m. The tax relief for small businesses has already been legislated, but additional legislation would be required for the cuts to take effect earlier than 2026-27. Labor opposes a further reduction in the small business tax rate, but it could face the prospect of having to go into the election with a policy of reversing the additional tax cuts.
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, CENTRE ALLIANCE, ONE NATION PARTY