CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. BCA: Aus Company Tax Cut 'Bare Minimum' Needed

BCA: Aus Company Tax Cut 'Bare Minimum' Needed

by Mary Swire, Tax-News.com, Hong Kong

03 March 2017


Jennifer Westacott, the Chief Executive of the Business Council of Australia, has called on Parliament to pass the Government's company tax proposals as "the bare minimum" needed to ensure the country's international competitiveness.

Westacott was reacting to the publication of the National Accounts for the December quarter of 2016. She said that "growth is patchy across the economy," and that this underscores "the risks if Australia fails to respond to our international competitors' moves to cut company tax."

In particular, Westacott said that Australia must work hard to attract new investment. She described US President Donald Trump's promised tax reforms as "bad news for Australia."

"There are only so many investor dollars in the world, and money will always flow to the most profitable investments, supporting workers in those countries and bolstering their wages. Parliament must pass the Government's company tax plan in full as it is the bare minimum needed to ensure Australia remains attractive to global investors," she concluded.

The Government has proposed a 10-year Enterprise Tax Plan which, if passed, would reduce the company tax rate from 30 percent to 25 percent by 2026.

TAGS: tax | investment | Australia | tax rates | tax reform

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 

Log into Tax-News+
Not registered yet? Find out about our daily news alert service »

 Email: 
 Password: 

Login »

Forgotten your password?







Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »