Reduce Company Taxes Now

Among the many economic reasons to reduce company taxes, we are increasingly falling behind the rest of the world.

A growing number of developed nations, including Great Britain, are slashing corporate tax rates in a bid to become more competitive. This is no surprise given the levels of political instability in Europe, the permanent repercussions of the GFC and the possibility of a Brexit in June.

Although we have and have had better economic conditions in Australia, we can no longer afford to keep company taxes at their current rates. Depending on mining, housing and investment booms is dangerous. We should instead allow Australian businesses to flourish. This creates sustained and guaranteed economic growth.

Company tax cuts benefit small Australian businesses more than foreign multinational corporations. While the largest companies have 'armies of lawyers and accountants,' small businesses can not afford to spend their revenue on high taxes.

This is why a company tax cut for Australian business is long overdue.

 

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