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.

CORPORATES
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

Original article by Rosie Lewis
The Australian – Page: 6 : 22-Aug-18

The company tax cuts package is likely to be rejected by the Senate, despite the Federal Government’s move to exclude the four major banks from the lower tax rate. One Nation leader Pauline Hanson has signalled that she will not support the bill, including the amendment to exclude the big four banks. Meanwhile, Finance Minister Mathias Cormann has told crossbenchers that the tax rate for large companies will need to be reduced at some point, to ensure that Australia is globally competitive.

CORPORATES
ONE NATION PARTY, AUSTRALIA. DEPT OF FINANCE, CENTRE ALLIANCE, AUSTRALIA. DEPT OF THE TREASURY, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ

Original article by Phillip Coorey
The Australian Financial Review – Page: 5 : 14-Aug-18

The Federal Government will require the support of Centre Alliance and One Nation for its company tax cuts package, which will shortly be put to the Senate. Finance Minister Mathias Cormann has stated that company tax cuts that have been legislated will be part of the government’s campaign platform for the next election. However, the fate of unlegislated tax cuts remains uncertain, with indications that the government may be willing to compromise. Amongst other things, it is said to be considering lifting the turnover threshold for the tax cuts to $500m.

CORPORATES
CENTRE ALLIANCE, ONE NATION PARTY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 13-Aug-18

The Federal Government remains hopeful of gaining One Nation’s support for its full company tax cuts package when it is put to the Senate in mid-August. However, sources have indicated that the government is looking at alternative options in the event that the tax package is rejected by the upper house. These include limiting the turnover threshold for the tax cuts to $500m or bringing forward tax cuts for small businesses that have been legislated. The government may also opt to abandon any tax measures that are rejected by the Senate or put them on hold until after the next election.

CORPORATES
ONE NATION PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, CENTRE ALLIANCE, AUSTRALIAN LABOR PARTY, AUSTRALIAN BUILDING AND CONSTRUCTION COMMISSION

Original article by Rosie Lewis
The Australian – Page: 6 : 8-Aug-18

The Federal Government has signalled that it will seek passage of its full company tax cuts package through the Senate by 23 August. Finance Minister Mathias Cormann is said to still be holding talks with One Nation and Centre Alliance regarding the tax package. He has ruled out imposing a revenue cap of $500m on the tax cuts, although he may be open to fast-tracking tax cuts for smaller companies.

CORPORATES
AUSTRALIA. DEPT OF FINANCE, ONE NATION PARTY, CENTRE ALLIANCE, LIBERAL DEMOCRATIC PARTY

Original article by Phillip Coorey
The Australian Financial Review – Page: 3 : 7-Aug-18

The Federal Government will seek to pass its full company tax cuts package in the Senate when parliament resumes in mid-August. The support of One Nation and Centre Alliance senators will be crucial, although they are still unwilling to endorse the full package. However, both minor parties have signalled that they would most likely support any proposal to bring forward tax cuts for businesses with turnover of less than $50m. The tax cuts are slated to take effect in 2026-27, but Centre Alliance senator Stirling Griff says he would be open to reducing the tax rate for these businesses to 25 per cent immediately.

CORPORATES
ONE NATION PARTY, CENTRE ALLIANCE, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 19-Jul-18

The Federal Government remains hopeful of gaining the support of One Nation and Centre Alliance for its full corporate tax cuts package when parliament resumes in August. The two minor parties have a combined four seats in the Senate, which would be sufficient for the tax bill to be passed. However, the Government may consider bringing forward tax cuts that have already been legislated if its full tax package is rejected by the Senate.

CORPORATES
ONE NATION PARTY, CENTRE ALLIANCE, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF FINANCE, AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA, BUSINESS SA, COOPERS BREWERY LIMITED, THOMAS FOODS INTERNATIONAL