Labor threatens to axe tax cuts

March 29, 2018

The Turnbull government continues to negotiate with crossbench senators to push through legislation, which would see the tax rate for all Australian businesses cut from 30 to 25 per cent.

Australian Conservatives leader Cory Bernardi, Independents Fraser Anning and Steve Martin, Liberal Democrat David Leyonhjelm and the three One Nation senators have all agreed to vote for the change, but Victorian Senator Derryn Hinch and South Australian Senator Tim Storer have not yet reached a decision on the tax plan.

In fact Senator Storer, a former NXT senate candidate now an independent, said he, "remained to be convinced of the bill in its current form in isolation from a broader discussion" on tax reform.

Opposition Leader Bill Shorten (pictured) has confirmed Labor will repeal the cuts if they win the next federal election.

Senator Bernardi has told Paul Murray Live on Sky News, Labor's threat to repeal the cuts for, even for small-to-medium business, reinforces the need for more Australian Conservatives in the senate.

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