La­bor backs small busi­ness tax cut

Shepparton News - - NATIONAL AND WORLD NEWS -

La­bor will back a Fed­eral Gov­ern­ment move to bring for­ward tax cuts for com­pa­nies with an­nual turnovers less than $50 mil­lion.

Those com­pa­nies will have their tax rate cut to 26 per cent in 2020-21, then 25 per cent the fol­low­ing year, un­der leg­is­la­tion that will be in­tro­duced to par­lia­ment next week. The Op­po­si­tion will pay for it by de­lay­ing the in­tro­duc­tion of its pro­posed Aus­tralian In­vest­ment Guar­an­tee by 12 months.

‘‘With a Shorten La­bor gov­ern­ment, 99 per cent of busi­nesses will re­ceive a tax cut, no busi­ness will have their tax rate in­creased, and all busi­nesses will be able to plan and in­vest with con­fi­dence and cer­tainty,’’ La­bor leader Bill Shorten said.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.