Companies’ tax cuts on fast track

Original article by Simon Benson
The Australian – Page: 1 & 2 : 11-Oct-18

The federal government intends to bring forward a reduction in the tax rate for small and medium enterprises. Prime Minister Scott Morrison is set to announce that the SME tax rate will be reduced to 26 per cent in 2020-21 and 25 per cent in 2021-22. The full tax cuts package for SMEs was originally slated to take effect in 2026-27. The government began looking into fast-tracking SME tax cuts under former prime minister Malcolm Turnbull, after it dropped plans to reduce the tax rate for large companies.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIA. DEPT OF JOBS AND SMALL BUSINESS, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, BUSINESS COUNCIL OF AUSTRALIA, ENERGYAUSTRALIA PTY LTD, SEEK LIMITED – ASX SEK, INCITEC PIVOT LIMITED – ASX IPL

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