Small Business Tax Cut to 20pc Under New Reform Proposal

Small business tax cut to 20pc under new reform proposal

Small companies would pay less tax, but the largest could pay more under a new reform proposal from the independent agency tasked with helping to shape Labor's economic reform agenda.

PC reform would raise tax for top 500 companies

But the corporate tax rate would be slashed to 20 per cent for small and medium companies under a bold Productivity Commission recommendation.

Small business tax rate cut path to productivity: COSBOA

The Council of Small Business Organisations Australia (COSBOA) welcomes the Australian Productivity Commission’s (PC) recommendation to cut the small business company tax rate to 20%.“Cutting the small business tax rate to 20% for small businesses with an annual turnover of less than $20 million would put billions back into the economy and help drive Australia’s productivity,” said COSBOA Chair Matthew Addison.This is a strong endorsement of COS…

Small businesses could soon benefit from a major company tax cut

Small businesses could soon benefit from a lower 20 per cent company tax rate under sweeping reforms proposed by the Productivity Commission. The proposals, revealed in an interim report on Thursday, would slash the company tax rate from 25 per cent to 20 per cent for all businesses earning below $50 million.  Businesses earning between $50 million and $1 billion per year would also pay a new rate of 20 per cent. The cut would bring the company …

channelnews : Productivity Commission Proposes 20% Tax for SMEs, New Levy for Big Business

In a bid to revive Australia’s sluggish productivity, the Productivity Commission has proposed slashing the company tax rate to 20% for nearly all Australian businesses – except the country’s biggest players who would face a new 5% cashflow tax under the plan. Unveiled ahead of Treasurer Jim Chalmers’ Economic Reform Roundtable in August, the proposal...