Cormann pushing ahead with company tax cuts

June 25, 2018

Finance Minister Mathias Cormann says the government remains serious about passing its company tax cut package and intends to deal with the issue in the Senate this week.

The Australian reports, Senator Cormann, who has been strongly supported by Conservative Party leader Cory Bernardi in his push to bring down taxes, has  avoided saying whether the government would persist with the legislation should it fail to pass, stressing the importance of Australia’s company tax rate remaining internationally competitive.

“We’re very serious, because working families around Australia need us to legislate those business tax cuts for all businesses around Australia in full,” Senator Cormann told ABC TV.

“(Labor leader) Bill Shorten is standing up for the big end of town in the US and the big end of town in just about every other country around the world that imposes lower business taxes on their businesses, helping those businesses take business investment and jobs away from Australia.

“If we continue to impose higher taxes on businesses here in Australia than are faced by just about every business in every other part of the world, we are putting workers in Australia at a disadvantage with workers in other parts of the world.”

Senator Bernardi has told Chris Kenny on Sky News Australian businesses need a globally competitive playing field – and that’s what the principled Conservative Party’s position is.

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